RideNow Group, Inc. (RDNW): debt financing — RideNow Group issues $10M subordinated notes at 13% PIK interest; amends warrants

RideNow Group, Inc.

Issued $10M aggregate subordinated notes to Stone House Capital, Face Canyon, and Mark Tkach.
Notes bear 13% PIK interest, mature Aug 31, 2028, subordinated to senior credit agreement.
Proceeds used to partially fund $20M senior loan prepayment required under Amendment No. 10.
Amended warrants: exercise price lowered to lesser of $11.09 or 1.25x 30-day VWAP; expiration extended to Aug 10, 2030.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

RideNow Group, Inc. incurred senior notes of $3,333,334 million of unsecured subordinated loans made by each Subordinated Lender to the Company with Stone House Capital Management, LLC, Face Canyon LLC, and Mark Tkach at 13.0% per annum maturing August 31, 2028.

Instrument: senior notes
Principal: $3,333,334 million of unsecured subordinated loans made by each Subordinated Lender to the Company
Counterparty: Stone House Capital Management, LLC, Face Canyon LLC, and Mark Tkach
Rate: 13.0% per annum
Maturity: August 31, 2028
Event: incurrence

Exact text from the filing

On August 25, 2025, RideNow Group, Inc. (the “Company”) issued separate unsecured subordinated promissory notes (collectively, the “Subordinated Notes”) payable to each of Stone House Capital Management, LLC, Face Canyon LLC, and Mark Tkach (collectively, the “Subordinated Lenders”) to evidence $3,333,334 million of unsecured subordinated loans made by each Subordinated Lender to the Company.

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RideNow Group, Inc. filing history →

Source: SEC EDGAR

accession 0001596961-25-000083

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