Air T, Inc. completed a reorganization of its aviation asset management platform and the acquisition of Arena Aviation Partners B.V. through its platform vehicle, Crestone Air Partners, LLC (CAP). The company and Aviation Growth Initiatives, LLC acquired the remaining 10% interest in Crestone Asset Management, LLC for $6.2 million. CAP acquired Arena for $21.75 million in cash, funded by $21.7 million in cash contributions to CAP from the Company and Blue Owl Capital Inc. Additionally, the company's subsidiaries entered into an amendment to their Alerus Credit Agreement to establish a temporary $2.8 million overline revolving credit commitment. Air T, Inc. is an aviation asset management and services company.
