secwatch.observer — SEC 8-K summary
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Issuer:     Oportun Financial Corp (OPRT)
CIK:        0001538716
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0001538716-24-000129
Event type: debt
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oportun enters $235M senior secured term loan with Castlelake and Neuberger Berman
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- Oportun signed $235 million Credit Agreement with Castlelake and Neuberger Berman on October 23, 2024 to refinance existing debt.
- Loan bears 15% interest, matures in 4 years, with mandatory repayments of $12.5M by July 2025 and $27.5M by Jan 2026.
- Lenders receive warrants for 9.8% of fully-diluted shares at $0.01 per share, plus board observer rights.
- Preliminary Q3 2024 results: Total Revenue $249-251M, Adjusted EBITDA $28-31M, Net Loss $(30-32)M, meeting guidance.
- Company expects 2025 Diluted EPS of $0.25-$0.50 and Adjusted EPS of $1.00-$1.25, with net charge-off rate 11-12%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538716/000153871624000129/0001538716-24-000129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538716/000153871624000129/oprt-20241023.htm
  HTML page:      https://secwatch.observer/filing/0001538716-24-000129

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