{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-22-020230","form_type":"8-K","ticker":"OMCC","cik":"0001000045","company_name":"OLD MARKET CAPITAL Corp","filed_at":"2022-10-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:49.108007+00:00","generated_at":"2026-06-22T23:09:20.485375+00:00","sec_items":["2.04"],"event_type":"debt","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Nicholas Financial in default on loan; Wells Fargo imposes default rate interest","bullets":["Default due to EBITDA ratio covenant failure for month ending August 31, 2022.","Default rate of interest effective Aug 31, 2022; additional ~$130k interest for Q3 2022 and ~$118k/month thereafter.","Lenders reserve right to accelerate all obligations under the loan agreement.","Company is working with Wells Fargo to address default and negotiating refinancing with an alternative source.","Default driven by increased provisions for credit losses as COVID-19 assistance subsided."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-22-020230","json":"https://secwatch.observer/filing/0000950170-22-020230.json","markdown":"https://secwatch.observer/filing/0000950170-22-020230.md","text":"https://secwatch.observer/filing/0000950170-22-020230.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1000045/000095017022020230/0000950170-22-020230-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1000045/000095017022020230/nick-20221020.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T23:09:20.485375+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c4c1358290ce2a1a6c471ed176f65eee455d01f2","claim":"OLD MARKET CAPITAL Corp reported a default on credit facility with Wells Fargo Bank, N.A. at default rate of interest.","evidence_excerpt":"the lenders expressly reserve all rights and remedies available under the Loan Agreement. Among those rights and remedies is the ability of the lenders to accelerate all of Nicholas’ obligations under the loan.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1000045/000095017022020230/0000950170-22-020230-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, N.A."},{"label":"Rate","value":"default rate of interest"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}