secwatch.observer — SEC 8-K summary
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Issuer:     OLD MARKET CAPITAL Corp (OMCC)
CIK:        0001000045
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000950170-24-051408
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nicholas Financial closes $65.6M asset sale to Westlake Services; receives net cash of $40.6M
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- Completed sale of substantially all motor vehicle retail installment contracts and unsecured consumer loan contracts to Westlake Services.
- Total purchase price $65,617,598; net cash proceeds after adjustments $40,633,835.
- Retained $25,894,206 in principal and interest cash payments collected prior to closing that otherwise would have been paid to Westlake.
- Exit of consumer loan origination business; servicing had been handled by Westlake affiliate since Nov 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000045/000095017024051408/0000950170-24-051408-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000045/000095017024051408/nick-20240426.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-051408

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