secwatch.observer — SEC 8-K summary
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Issuer:     CONNS INC (—)
CIK:        0001223389
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0001193125-23-199407
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1223389/000119312523199407/0001193125-23-199407-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1223389/000119312523199407/d527041d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-199407

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