{"schema_version":"secwatch.filing_event.v1","accession":"0001395942-23-000074","form_type":"8-K","ticker":"OPLN","cik":"0001395942","company_name":"OPENLANE, Inc.","filed_at":"2023-06-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.689956+00:00","generated_at":"2026-06-13T16:56:44.800936+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"OPENLANE enters $325M revolving credit facility, replacing prior credit agreement","bullets":["Five-year $325M revolver with $65M L/C and $60M swingline sublimits.","Replaces prior credit agreement; all outstanding amounts repaid in full.","Interest: Adjusted Term SOFR plus margin of 2.25%-2.75%, or Base Rate plus 1.25%-1.75%.","Covenant: max consolidated senior secured net leverage ratio of 3.50:1.00.","Proceeds for working capital and general corporate purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0001395942-23-000074","json":"https://secwatch.observer/filing/0001395942-23-000074.json","markdown":"https://secwatch.observer/filing/0001395942-23-000074.md","text":"https://secwatch.observer/filing/0001395942-23-000074.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1395942/000139594223000074/0001395942-23-000074-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1395942/000139594223000074/kar-20230623.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T16:56:44.800936+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":"4b088106fc32245cd49c6406ee625803f4f13d86","claim":"OPENLANE, Inc. entered into Credit Agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent valued at $325,000,000 (effective 2023-06-23).","evidence_excerpt":"On June 23, 2023, OPENLANE, Inc. (the “ Company ”) entered into a Credit Agreement (the “ Credit Agreement ”) among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the “ Administrative Agent ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1395942/000139594223000074/0001395942-23-000074-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Value","value":"$325,000,000"},{"label":"Effective","value":"2023-06-23"}],"fact_type":"material_agreement"},{"claim_id":"7499a25d5eb8500920294ce90efc9f6a1d647c83","claim":"OPENLANE, Inc. terminated Original Credit Agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (effective 2023-06-23).","evidence_excerpt":"The Original Credit Agreement was terminated substantially concurrently with the Company’s entry into the Credit Agreement and all outstanding amounts and commitments thereunder have been repaid in full and terminated.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1395942/000139594223000074/0001395942-23-000074-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Effective","value":"2023-06-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}