---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-199407"
form_type: "8-K"
ticker: null
cik: "0001223389"
company_name: "CONNS INC"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T21:47:10.967159+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Conn's Inc. executes $50M term loan facility with Stephens; warrants to be issued up to 19.99% of shares

## Summary
- Delayed draw term loan agreement with $50M commitment; interest at Term SOFR + 10.00% (floor 5%); matures May 22, 2026.
- Warrants to purchase common stock equal to 20% of each draw divided by exercise price; capped at 4,855,159 shares (19.99% of outstanding).
- Proceeds used for working capital and corporate purposes; no mandatory amortization until maturity.
- Board members Bob L. Martin and Douglas H. Martin have affiliations with lender affiliates; lenders are significant stockholders.

## SEC filing metadata
- accession: 0001193125-23-199407
- form_type: 8-K
- cik: 0001223389
- company_name: CONNS INC
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1223389/000119312523199407/0001193125-23-199407-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1223389/000119312523199407/d527041d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-199407
- JSON: https://secwatch.observer/filing/0001193125-23-199407.json
- Plain text: https://secwatch.observer/filing/0001193125-23-199407.txt

## Key facts
- Debt Financings
  CONNS INC incurred term loan of $50.0 million with Stephens Investments Holdings LLC at Term SOFR Rate, subject to a 5.00% floor, plus a margin of 10.00% maturing May 22, 2026.
  - Instrument: term loan
  - Principal: $50.0 million
  - Counterparty: Stephens Investments Holdings LLC
  - Rate: Term SOFR Rate, subject to a 5.00% floor, plus a margin of 10.00%
  - Maturity: May 22, 2026
  - Event: incurrence
  source text: Entered into a delayed draw term loan and security agreement (the “Term Loan Agreement”) with Stephens Investments Holdings LLC (“Stephens Investments”) and Stephens Group, LLC and the other lenders party thereto from time to time (the “Lenders”), and Stephens Investments, as administrative agent. The Term Loan Agreement provides for an aggregate commitment of $50.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000119312523199407/0001193125-23-199407-index.htm
- Material Agreements
  CONNS INC entered into Term Loan Agreement with Stephens Investments Holdings LLC, Stephens Group, LLC, and the other lenders valued at $50.0 million (effective 2023-07-31).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Stephens Investments Holdings LLC, Stephens Group, LLC, and the other lenders
  - Value: $50.0 million
  - Effective: 2023-07-31
  source text: On July 31, 2023, Conn’s, Inc. (the “Company”), as parent and guarantor, Conn Appliances, Inc., Conn Credit I, LP and Conn Credit Corporation, Inc., as borrowers (the “Borrowers”), entered into a delayed draw term loan and security agreement (the “Term Loan Agreement”) with Stephens Investments Holdings LLC (“Stephens Investments”) and Stephens Group, LLC and the other lenders party thereto from time to time (the “Lenders”), and Stephens Investments, as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1223389/000119312523199407/0001193125-23-199407-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.