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Air T, Inc. Announces Extension of Warrants (AIRTW) to purchase Alpha Income Preferred Securities (AIRTP) Through January 15, 2021
DENVER, NC / ACCESSWIRE / September 2, 2020 / Air T, Inc. (NASDAQ:AIRT) ("Air T") announced today that the Warrants ("Warrants") (NASDAQ:AIRTW) to purchase
About this update from Air T, Inc.
[{"type":"text","content":"DENVER, NC / ACCESSWIRE / September 2, 2020 / Air T, Inc. (NASDAQ:AIRT) (\"Air T\") announced today that the Warrants (\"Warrants\") (NASDAQ:AIRTW) to purchase its Alpha Income Preferred (AIP) securities of Air T Funding (NASDAQ:AIRTP) have been extended through January 15, 2021. The Warrants were scheduled to expire on September 8, 2020.Each Warrant is exercisable for one-tenth of a share of AIP for $2.40. Therefore, each ten (10) Warrants confer upon the holder the right to purchase one (1) full share of AIP for $24.00, representing a 4% discount to the stated value of $25.00 for one share.The offering of AIP upon exercise of the Warrants is made only by means of a prospectus. Copies of the final prospectus relating to the offering, which is included in Air T's registration statement on Form S-1 (File Nos. 333-228485 and 333-228485-01), and the prospectus supplements dated June 9, 2020 and September 2, 2020, may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov.Alternatively, copies of the prospectus and prospectus supplement may be obtained for free from Katrina Philp, Chief of Staff, Air T, Inc., telephone (612) 405-5896, email [email protected] Air T, Inc.Established in 1980, Air T, Inc. is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. We seek dynamic individuals and teams to operate companies using processes that increase value over time. We believe we can apply corporate resources to help activate growth and overcome challenges. Our core segments are overnight air cargo; aviation ground support equipment manufacturing; and commercial aircraft asset management. For more information, visit www.airt.net.Forward-Looking StatementsCertain matters discussed in this press release may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward-looking statements are subject to risks, uncertainties and assumptions about our operations and the investments we make, including, among other things, factors discussed under the heading \"Risk Factors\" in our 10-K, as well as the following:Conditions in the Company's markets;The ability of the Company and its business segments to generate sufficient cash flows from operations or through financings.The risk that contrac...