secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAS CARMART INC (CRMT)
CIK:        0000799850
Form:       8-K
Filed at:   2024-07-18T23:59:59+00:00
Accession:  0001171843-24-004021
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

America's Car-Mart secures $150M warehouse loan facility; amends credit covenants
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- Entered $150M warehouse loan facility with Atlas Securitized Products Funding 1, L.P., maturing July 12, 2026.
- Interest rate on warehouse facility is Term SOFR plus 350 basis points; recourse limited to 10% of aggregate borrowed.
- Amendment No. 7 to credit agreement lowers fixed charge coverage ratio from 0.75x to 1.25x over 12 months.
- Company must provide a cash dominion plan within 30–60 days or face an Event of Default.
- New collateral reserve of $11.27M initiated, adjustable monthly based on EBITDA vs. Fixed Charges.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799850/000117184324004021/0001171843-24-004021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799850/000117184324004021/f8k_071524.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-004021

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