secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAS CARMART INC (CRMT)
CIK:        0000799850
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001171843-24-001193
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

America's Car-Mart amends credit facility: reduces capacity to $340M, extends to Sep 2025, adds tighter covenants
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- Total credit facility reduced from $600M to $340M; accordion feature restored to $100M.
- Term extended to September 30, 2025; unused line fee rises to 0.50% if borrowings <50% of commitments.
- New fixed charge coverage ratio: 1.00x through Aug 2024, 1.15x Sep-Dec 2024, 1.25x from Jan 2025.
- Eligible vehicle inventory purchase limit raised to $20K for cars, $30K for trucks; acquisition cap increased to $20M/year.
- Wells Fargo and CIBC Bank USA exited; BMO Harris ($88M) and Axos Bank ($84M) are new lead lenders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799850/000117184324001193/0001171843-24-001193-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799850/000117184324001193/f8k_030524.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-001193

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