Air T Files Arena Acquisition Financials: $33.9M Deal, Pro Forma Loss Widens
AIRT has more than doubled off its 52-week low of $15.04 on elevated volume (3.5× avg).
Summary
Air T filed the required audited Arena financials and pro forma combined statements for its June 10 acquisition. Pro forma results show the deal adds revenue but widens losses due to amortization and transaction costs.
Key Events · M&A and Partnerships · AIRT
-
Arena Financials Filed
Audited FY2025 and FY2024 consolidated financial statements for Arena Aviation Partners B.V. filed as Exhibit 99.1, showing FY2025 revenue of €10.1M and profit of €692K.
-
Pro Forma Impact Revealed
Pro forma combined FY2026 revenue of $338.5M and net income attributable to Air T of $72.6M (vs. $78.0M standalone); Q1 FY2027 pro forma net loss of $14.6M (vs. $15.8M standalone).
-
Purchase Price Allocation
Preliminary allocation of $33.9M total consideration: $29.7M intangible assets, $8.2M goodwill, $7.7M deferred tax liability, and $2.6M cash acquired.
-
Contingent Consideration
$12.2M of the $33.9M total consideration is contingent consideration at estimated fair value, tied to 57.5% of specified at-risk upside-sharing amounts collected after closing.
Analysis · AIRT · Energy & Transportation
This amendment delivers the audited Arena financials and pro forma combined statements required by Item 9.01. The pro forma data shows the acquisition adds $11.4M in annual revenue but also $6.7M in incremental amortization and transaction costs, pushing pro forma FY2026 net income down from $78.0M to $72.6M and widening the Q1 FY2027 pro forma net loss to $14.6M. The preliminary purchase price allocation reveals $29.7M in intangible assets and $8.2M in goodwill against $33.9M total consideration, with a $7.7M deferred tax liability. This is the first time investors see the full financial impact of the Arena deal on Air T's consolidated results.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AIRT was trading at $31.19 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $83.6M. The 52-week trading range was $15.04 to $35.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.