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Air T, Inc. Announces Record Date, Payment Date and Payment Rate for Distribution on Alpha Income Preferred Securities

DENVER, NC / ACCESSWIRE / February 4, 2020 / Air T, Inc. (AIRT) ("Air T") announced today the record date, payment date and payment rate for the next quarterly cash distribution on its Alpha Income Preferred (AIP) securities (AIRTP), which provide for distributions at the rate of 8.0% per annum on the stated value of $25.00 per share of AIP (reflecting a one-for-ten reverse split that was effective January 14, 2020). The distribution will be paid on Monday, February 17, 2020, to holders as of the Record Date of February 14, 2020. This distribution will cover the period from November 15, 2019, the date of the previous distribution, through February 15, 2020, and the distribution will be in the amount of $0.50 per share of AIP.

Future distributions will be paid on the 15th day of every February, May, August and November or the next business day if the due date is not on a business day (subject to possible deferral as set forth in the Amended and Restated Trust Agreement dated June 10, 2019). The record date for each distribution will be one business day prior to the distribution date. Future distributions will be in the amount of $0.50 per share of AIP.

Air T believes the AIP security offers holders an 8% return, providing a steady stream of income while diversifying portfolios and reducing overall asset allocation risk. Additional shares of AIP are available through the exercise of Warrants to purchase AIP shares ("Warrants"). Warrants were issued to AIRT shareholders in June of 2019 and are publicly traded (AIRTW). Although AIP shares are still available, Air T is seeing steady Warrant conversion. The Warrants are only exercisable through their expiration date of June 7, 2020.


Established in 1980, AIR T, INC. is a powerful portfolio of businesses and financial assets, each of which operate independently yet interrelatedly. The Company's three core segments are: overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics. Our ownership interests are designed to expand, strengthen and diversify AIR T, INC.'s cash earnings power. Our goal is to build on AIR T, INC.'s core businesses, and when appropriate, to expand into adjacent and other industries that we believe fit into the AIR T, INC. portfolio.


Brian Ochocki
Chief Financial Officer

Forward-Looking Statements

Statements in this press release, which contain more than historical information, may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties. Actual results may differ materially from those expressed in the forward-looking statements because of important potential risks and uncertainties, including, but not limited to, the risk that contracts with major customers will be terminated or not extended, future economic conditions and their impact on the Company's customers, the Company's ability to recover on its investments, including its investments in Delphax and other recently acquired companies, the timing and amounts of future orders under the Company's Global Ground Support subsidiary's contract with the United States Air Force, and risks and uncertainties related to business acquisitions, including the ability to successfully achieve the anticipated benefits of the acquisitions, inflation rates, competition, changes in technology or government regulation, information technology disruptions, and the impact of future terrorist activities in the United States and abroad. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. The Company is under no obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Air T, Inc.

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