secwatch.observer — SEC 8-K summary
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Issuer:     FlexShopper, Inc. (—)
CIK:        0001397047
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0001213900-23-048565
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FlexShopper enters $20M Basepoint credit facility, amends Waterfall credit agreement
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- Basepoint facility provides up to $20M for consumer loan origination at 13.42% interest, matures June 7, 2026; $7.4M drawn.
- Amendment No. 17 to Waterfall Credit Agreement consents to Revolution Agreements and formation of subsidiary Flex TX, LLC.
- Key Person definition revised to include any c-suite or EVP; replacement required within 90 days of termination.
- Joinder agreement waives certain historical defaults and adds Flex Revolution, LLC as joint borrower and grantor.
- Asset purchase from Revolution Financial (Oct 2022) facilitated by new borrowing structure under Basepoint facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397047/000121390023048565/0001213900-23-048565-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397047/000121390023048565/ea180276-8k_flexshopper.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-048565

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