Car-Mart gets limited waiver on loan defaults; pays $18M fee; CFO resigns

AMERICAS CARMART INC

• Lenders waive specified defaults (liquidity, collateral, reporting) through at least Sept 7, 2026, subject to milestones; company pays up to $18M in fees.
• Revised minimum liquidity set at $7M weekly / $5M otherwise; minimum collateral coverage ratio 1.25:1 (June 30) or 1.20:1 monthly thereafter.
• CFO Jonathan Collins resigns effective July 31; Marie Persichetti appointed CFO effective Aug 1, with base salary $425K plus $200K retention award.
• Director Julia Davis resigns; board appoints Gilbert Nathan and Michael Wartell as independent directors; each gets $45K/month plus $4K/day for extended duties.
• Company continues strategic alternatives review with Houlihan Lokey, FTI Consulting, Mayer Brown; warns no assurance of successful outcome.