{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-097925","form_type":"8-K","ticker":"OPLN","cik":"0001395942","company_name":"OPENLANE, Inc.","filed_at":"2025-10-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.298734+00:00","generated_at":"2026-05-17T04:18:18.265873+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"OPENLANE completes repurchase of 53% of Series A Preferred Stock, raises $550M in term loans","bullets":["Repurchased 288,322 Series A Preferred shares from Apax for $482.4M and 45,706 shares from Periphas for $76.5M.","Repurchased shares represent 53% of outstanding Series A Convertible Preferred Stock; shares cancelled.","Entered into $550M incremental term loans under amended Credit Agreement to finance repurchases; oversubscribed with tighter pricing.","CFO Brad Herring noted strong cash generation and growth positioning; financing substantially oversubscribed."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-097925","json":"https://secwatch.observer/filing/0001104659-25-097925.json","markdown":"https://secwatch.observer/filing/0001104659-25-097925.md","text":"https://secwatch.observer/filing/0001104659-25-097925.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1395942/000110465925097925/0001104659-25-097925-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1395942/000110465925097925/tm2528096d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:18:18.265873+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":"835ed9ab17f9b4f1e7b042ef80ae8cce03878095","claim":"OPENLANE, Inc. incurred term loan of $550,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at Adjusted Term SOFR Rate plus a margin of 2.50%.","evidence_excerpt":"The Second Amendment provides for, among other things, the incurrence of incremental term loans in an aggregate principal amount equal to $550,000,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1395942/000110465925097925/0001104659-25-097925-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$550,000,000"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Rate","value":"Adjusted Term SOFR Rate plus a margin of 2.50%"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}