---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-063620"
form_type: "8-K"
ticker: "OMCC"
cik: "0001000045"
company_name: "OLD MARKET CAPITAL Corp"
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T03:07:09.800465+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Nicholas Financial to sell substantially all assets to Westlake for ~$65.6M; Q2 net loss widens

## Summary
- Nicholas Financial agreed to sell substantially all assets (Contracts and Receivables) to Westlake for ~$65.6M (~$9.00/book value); closing subject to shareholder approval.
- Q2 net loss widened to $10.5M from $3.2M YoY; diluted EPS -$1.44 vs -$0.44.
- Interest & fee income fell 48.3% to $6.3M; provision for credit losses rose 39.3% to $12.4M.
- Company ceased new originations; net charge-off rate soared to 58.2% from 12.4% YoY.

## SEC filing metadata
- accession: 0000950170-23-063620
- form_type: 8-K
- ticker: OMCC
- cik: 0001000045
- company_name: OLD MARKET CAPITAL Corp
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000045/000095017023063620/0000950170-23-063620-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000045/000095017023063620/nick-20231114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-063620
- JSON: https://secwatch.observer/filing/0000950170-23-063620.json
- Plain text: https://secwatch.observer/filing/0000950170-23-063620.txt

## Key facts
- Earnings Releases
  OLD MARKET CAPITAL Corp reported the quarter ended September 30, 2023 results: net income net loss for the three months ended September 30, 2023 of $10.5 million, EPS Basic and diluted net loss per share was $1.44 for the three months ended September 30, 2023.
  - Period: the quarter ended September 30, 2023
  - Net income: net loss for the three months ended September 30, 2023 of $10.5 million
  - EPS: Basic and diluted net loss per share was $1.44 for the three months ended September 30, 2023
  - Result: reported results
  source text: On November 14, 2023 Nicholas Financial, Inc. (the “ Company ”) issued a press release announcing, among other things, the Company’s financial results for its quarter ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000045/000095017023063620/0000950170-23-063620-index.htm
- Earnings Releases
  OLD MARKET CAPITAL Corp reported the six months ended September 30, 2023 results: net income The Company reported a net loss for the six months ended September 30, 2023 of $8.9 million, EPS Basic and diluted net loss per share was $1.23 for the six months ended September 30, 2023.
  - Period: the six months ended September 30, 2023
  - Net income: The Company reported a net loss for the six months ended September 30, 2023 of $8.9 million
  - EPS: Basic and diluted net loss per share was $1.23 for the six months ended September 30, 2023
  - Result: reported results
  source text: The Company reported a net loss for the six months ended September 30, 2023 of $8.9 million compared to net loss of $4.9 million for the six months ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1000045/000095017023063620/0000950170-23-063620-index.htm

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