---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-026317"
form_type: "8-K"
ticker: "OMCC"
cik: "0001000045"
company_name: "OLD MARKET CAPITAL Corp"
filed_at: "2022-12-12T23:59:59+00:00"
generated_at: "2026-06-21T05:53:56.864835+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nicholas Financial cuts credit facility to $60M, maturity to May 2023

## Summary
- Credit facility reduced from $175M to $60M; advance rate lowered to 50% of eligible receivables.
- Maturity shortened from Nov 5, 2024 to May 31, 2023; default interest rate waived.
- $0.3M non-refundable restructuring costs incurred; prior default event waived.

## SEC filing metadata
- accession: 0000950170-22-026317
- form_type: 8-K
- ticker: OMCC
- cik: 0001000045
- company_name: OLD MARKET CAPITAL Corp
- filed_at: 2022-12-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000045/000095017022026317/0000950170-22-026317-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000045/000095017022026317/nick-20221206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-026317
- JSON: https://secwatch.observer/filing/0000950170-22-026317.json
- Plain text: https://secwatch.observer/filing/0000950170-22-026317.txt

## Key facts
- Debt Financings
  OLD MARKET CAPITAL Corp amended credit facility of from $175 million to $60 million with Wells Fargo Bank, N.A., as agent maturing changed the maturity date of the Credit Facility from November 5, 2024 to May 31, 2023.
  - Instrument: credit facility
  - Principal: from $175 million to $60 million
  - Counterparty: Wells Fargo Bank, N.A., as agent
  - Maturity: changed the maturity date of the Credit Facility from November 5, 2024 to May 31, 2023
  - Event: amendment
  source text: The Amendment reduced the maximum amount available under the Credit Facility from $175 million to $60 million, and also reduced the availability of funds under the Credit Facility from an advance rate of between 80% and 85% of the value of eligible receivables to an advance rate of 50% of the value of eligible receivables, and changed the maturity date of the Credit Facility from November 5, 2024 to May 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000045/000095017022026317/0000950170-22-026317-index.htm
- Material Agreements
  OLD MARKET CAPITAL Corp amended Second Amendment to Loan and Security Agreement with Wells Fargo Bank, N.A. (effective 2022-12-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A.
  - Effective: 2022-12-06
  source text: entered into a Second Amendment to Loan and Security Agreement among the Borrowers, Wells Fargo Bank, N.A., as agent (the “Agent”), and the lenders that are party thereto (the “Amendment”), which amends the Loan and Security Agreement dated as of November 5, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000045/000095017022026317/0000950170-22-026317-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.