Car-Mart reduces revolver by $20M to $320M, tightens covenants, restricts buybacks

AMERICAS CARMART INC

Line of credit reduced by $20M to $320M; minimum $20M availability required after Oct 15 (or $50M if borrowings >= $300M).
Must use proceeds of any $50M+ junior capital raise to pay down revolver; if not completed by Oct 31, pay 0.10% fee.
Amended fixed charge coverage ratio covenant with rising minimums (e.g., 1.10x for periods ending after Aug 2025).
Company restricted from future common stock repurchases; additional restrictions on other shareholder distributions.
Must engage a financial advisor acceptable to lenders within 14 days; also required to implement full cash dominion.

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