---
schema_version: "secwatch.filing_event.v1"
accession: "0001538716-24-000123"
form_type: "8-K"
ticker: "OPRT"
cik: "0001538716"
company_name: "Oportun Financial Corp"
filed_at: "2024-09-26T23:59:59+00:00"
generated_at: "2026-05-31T01:33:22.327635+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Oportun extends warehouse facility to $306M and agrees to sell credit card portfolio to Continental Finance

## Summary
- Amended personal loan warehouse facility to $306.45M total commitment with a two-year revolving period, effective Sep 20, 2024.
- Borrowings under amended facility bear interest at Term SOFR plus weighted average spread of 3.45%, with advance rate of 95% (reducible to 92%).
- Entered Receivables Purchase Agreement on Sep 24, 2024 to sell credit card portfolio to Continental Purchasing, LLC.
- Sale price equals ~70% of the receivables balance of current and <30-day delinquent receivables; closing anticipated on or around Nov 10, 2024.
- Sale expected to be accretive by ~$2M to Adj. EBITDA in 2024 and ~$11M in 2025.

## SEC filing metadata
- accession: 0001538716-24-000123
- form_type: 8-K
- ticker: OPRT
- cik: 0001538716
- company_name: Oportun Financial Corp
- filed_at: 2024-09-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538716/000153871624000123/0001538716-24-000123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538716/000153871624000123/oprt-20240920.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001538716-24-000123
- JSON: https://secwatch.observer/filing/0001538716-24-000123.json
- Plain text: https://secwatch.observer/filing/0001538716-24-000123.txt

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