{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-094752","form_type":"8-K","ticker":null,"cik":"0001397047","company_name":"FlexShopper, Inc.","filed_at":"2025-10-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.303624+00:00","generated_at":"2026-05-17T05:04:12.984561+00:00","sec_items":["2.04","5.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Administrative Agent accelerates $164.5M FlexShopper debt; President, COO, three directors resign","bullets":["Acceleration includes $164.5M principal, $0.88M interest, $1.17M commitment fees, and $1.49M legal costs due immediately.","FlexShopper LLC terminated as servicer; no further borrowings allowed under Waterfall Credit Agreement.","President/COO John Davis resigned Sept 25; directors Thomas Katz and Patrick McCrory resigned Sept 26 and 29; no disagreement cited.","Director Steven Varner resigned Sept 29 citing disagreement with Company's handling of financials and borrowing; Company disputes.","Filing signed by Chief Restructuring Officer Matthew Doheny, indicating company is in restructuring mode."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-094752","json":"https://secwatch.observer/filing/0001213900-25-094752.json","markdown":"https://secwatch.observer/filing/0001213900-25-094752.md","text":"https://secwatch.observer/filing/0001213900-25-094752.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/0001213900-25-094752-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/ea0259570-8k_flex.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T05:04:12.984561+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9981d4836619ebd724e4ee5dff0b440d774d1185","claim":"FlexShopper, Inc. faced acceleration on credit facility of $164,498,950 with Computershare Trust Company, National Association, as paying agent, Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, as administrative agent.","evidence_excerpt":"and made demand for such payment. The obligations of the Borrower due and owing include: (i) the aggregate principal amount outstanding in respect of the loans in the amount of $164,498,950, (ii) the aggregate interest payments due in respect of the loans through and including the date of the Acceleration Notice in the amount of $881,696, (iii) unpaid commitment fees","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/0001213900-25-094752-index.htm","confidence":1.0,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$164,498,950"},{"label":"Counterparty","value":"Computershare Trust Company, National Association, as paying agent, Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, as administrative agent"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}