---
schema_version: "secwatch.filing_event.v1"
accession: "0001538716-23-000109"
form_type: "8-K"
ticker: "OPRT"
cik: "0001538716"
company_name: "Oportun Financial Corp"
filed_at: "2023-07-03T23:59:59+00:00"
generated_at: "2026-06-13T13:15:32.514254+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Oportun draws $25M incremental term loans; issues warrants for ~1.05M shares at $0.01

## Summary
- Borrowed $25M in Incremental Tranche C Loans under existing credit agreement dated Sept 2022.
- Issued warrants to purchase 1,048,363 shares of common stock at $0.01 per share to lenders.
- Warrants are highly dilutive given exercise price far below recent stock trading levels.
- No other material changes to credit agreement terms; proceeds used for general corporate purposes.

## SEC filing metadata
- accession: 0001538716-23-000109
- form_type: 8-K
- ticker: OPRT
- cik: 0001538716
- company_name: Oportun Financial Corp
- filed_at: 2023-07-03T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000109/0001538716-23-000109-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000109/oprt-20230630.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001538716-23-000109
- JSON: https://secwatch.observer/filing/0001538716-23-000109.json
- Plain text: https://secwatch.observer/filing/0001538716-23-000109.txt

## Key facts
- Debt Financings
  Oportun Financial Corp incurred term loan of $25 million with certain affiliates of Neuberger Berman Specialty Finance as lenders.
  - Instrument: term loan
  - Principal: $25 million
  - Counterparty: certain affiliates of Neuberger Berman Specialty Finance as lenders
  - Event: incurrence
  source text: On June 30, 2023, Oportun Financial Corporation (the “Company”) borrowed $25 million of incremental term loans (the “Incremental Tranche C Loans”) pursuant to the Company's corporate facility entered into by and among the Company, as borrower, the subsidiaries of the Company party thereto as guarantors, certain affiliates of Neuberger Berman Specialty Finance as lenders, and Wilmington Trust, National Association, as administrative agent and collateral agent, dated as of September 14, 2022 (as amended, supplemented or otherwise modified, the “Amended Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538716/000153871623000109/0001538716-23-000109-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.