secwatch.observer — SEC 8-K summary
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Issuer:     FlexShopper, Inc. (—)
CIK:        0001397047
Form:       8-K
Filed at:   2025-10-01T23:59:59+00:00
Accession:  0001213900-25-094752
Event type: debt
Sentiment:  negative
Materiality: 1.00
Item codes: 2.04, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Administrative Agent accelerates $164.5M FlexShopper debt; President, COO, three directors resign
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/0001213900-25-094752-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397047/000121390025094752/ea0259570-8k_flex.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-094752

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