secwatch.observer — SEC 8-K summary
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Issuer:     OLD MARKET CAPITAL Corp (OMCC)
CIK:        0001000045
Form:       8-K
Filed at:   2023-02-09T23:59:59+00:00
Accession:  0000950170-23-002356
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nicholas Financial reports Q3 net loss of $13.4M; restructures and halts direct loans
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- Net loss of $13.4M (diluted EPS -$1.85) vs $0.7M loss prior year.
- Discontinued direct consumer loans; new contract originations fell 76.8% YoY.
- Provision for credit losses rose 541.6% to $10.7M from $1.7M.
- Restructuring expenses of $3.2M in Q3 ($4.0M YTD) from branch closures and severance.
- Outsourced loan servicing to Westlake Portfolio Management; new credit facility in Jan 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000045/000095017023002356/0000950170-23-002356-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000045/000095017023002356/nick-20230209.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-002356

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