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Air T, Inc. (NASDAQ:AIRT) announced the record and payment dates for its Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) for the years 2022 and 2023. AIP holders will receive cash distributions of $0.50 per share, equivalent to an 8.0% annual rate based on par value. Key payment dates include February 15, May 16, August 15, and November 15 for 2022, and similar dates in 2023. Established in 1980, Air T focuses on air cargo, aviation support equipment manufacturing, and aircraft asset management, aiming to enhance cash flow and stakeholder value.
Air T, Inc. (NASDAQ:AIRT) has announced that its Warrants (NASDAQ:AIRTW) to purchase Alpha Income Preferred Securities (NASDAQ:AIRTP) will expire on August 30, 2021, without further extension. The expiration timeline leaves only 42 trading days for warrant holders to exercise their rights, which allows the purchase of Trust Preferred securities at $24.00, below its recent trading value of $25.00. Each Warrant grants the right to buy one-tenth of a share of AIP for $2.40. More information can be found in the company's prospectus on the SEC's website.
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