Friday, June 07, 2019

Equity Corporate Actions Alert #2019 - 110
(UPDATED) Information Regarding the Stock Split and the Distributions for Air T, Inc. (AIRT)

Category:

  • Industry Announcement

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On May 28, 2019, Air T, Inc. (AIRT) announced the declaration of a 50% stock dividend and the distributions of a new trust preferred stock and a new warrant of Air T, Inc. The 50% stock dividend and the distributions of the new trust preferred stock and warrant are all payable on Monday, June 10, 2019 to shareholders of record on Tuesday, June 4, 2019. The trust preferred stock and the warrants were both listed as when-issued securities on Nasdaq on Monday, June 10, 2019. An EX distribution when-issued market for the common stock of Air T, Inc. also listed on the Nasdaq Stock Market on Monday, June 10, 2019. The details for the distributions are as follows:

Company/ Parent: Air T, Inc.
Issue: Common Stock
CUSIP: 009207101
Symbol: AIRT
Record Date: June 4, 2019
Payment Date: June 10, 2019
EX Date: Tuesday, June 11, 2019
Due Bill Redemption Date: Wednesday, June 12, 2019
Ratio of Distributions:
(50%) stock dividend, 0.792161 of a share of Air T, Inc. Alpha Income Trust Preferred (AIRPV) and 4.158844 Warrants of Air T, Inc. for each share of Air T, Inc. common stock (AIRT) held.

An EX distribution when-issued market will be established for Air T, Inc. Trades in the EX distribution when issued market will not carry due-bills for the stock dividend and the distributions. The details for the EX distribution when-issued market are as follows:

Symbol: AIRTV
CUSIP: 009207143
First Trade Date: June 10, 2019
Suspension Date: June 11, 2019
Settlement Date: Thursday, June 13, 2019

The details for the when-issued trust preferred shares of Air T, Inc. Air T Funding Alpha Income Trust Preferred (AIRPV) are as follows:

Symbol: AIRPV
CUSIP: 00919P203
First Trade Date: Monday, June 10, 2019
Regular Way Trading Begins: Tuesday, June 11, 2019; Symbol will change to AIRTP on this date.
Settlement Date: Thursday, June 13, 2019

The details for the when issued warrant of Air T, Inc. Air T Funding Alpha Income Warrant (AIRWV) are as follows:

Symbol: AIRWV
CUSIP: 00919P112
First Trade Date: Monday, June 10, 2019
Regular Way Trading Begins: Tuesday, June 11, 2019; Symbol will change to AIRTW on this date.
Settlement Date: Thursday, June 13, 2019

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in AIRT, AIRTV AIRPV or AIRWV contact Nasdaq Trading Services at +1 212 231 5100.


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