---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-020288"
form_type: "8-K"
ticker: "RICK"
cik: "0000935419"
company_name: "RCI HOSPITALITY HOLDINGS, INC."
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:40:18.963603+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# RCI Hospitality subsidiary enters $20M term loan with Centennial Bank at 8.25% fixed for 5 years

## Summary
- $20 million term loan, 10-year maturity; interest fixed at 8.25% for first 5 years then adjusts to UST+362 bps (floor 6.50%).
- Monthly payments of $170,407.64 based on 20-year amortization; prepayment penalty 5% to 2% over first 8 years.
- Loan secured by 9 real estate properties; guaranteed by parent RCI Hospitality Holdings and CEO Eric Langan.
- Covenants require minimum $25M tangible net worth; dividends capped at $0.04/quarter unless debt service coverage <1.40x for 3 quarters (then suspended).
- Proceeds used for working capital; Centennial Bank receives right of first refusal on future real estate financings of RCI Holdings.

## SEC filing metadata
- accession: 0001628280-24-020288
- form_type: 8-K
- ticker: RICK
- cik: 0000935419
- company_name: RCI HOSPITALITY HOLDINGS, INC.
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/935419/000162828024020288/0001628280-24-020288-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/935419/000162828024020288/rick-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-020288
- JSON: https://secwatch.observer/filing/0001628280-24-020288.json
- Plain text: https://secwatch.observer/filing/0001628280-24-020288.txt

## Key facts
- Debt Financings
  RCI HOSPITALITY HOLDINGS, INC. incurred term loan of $20.0 million with Centennial Bank at 8.25% maturing April 30, 2034.
  - Instrument: term loan
  - Principal: $20.0 million
  - Counterparty: Centennial Bank
  - Rate: 8.25%
  - Maturity: April 30, 2034
  - Event: incurrence
  source text: our wholly-owned subsidiary RCI Holdings, Inc. ("RCI Holdings") entered into and closed a term loan with Centennial Bank for $20.0 million (the "Loan").
  evidence_url: https://www.sec.gov/Archives/edgar/data/935419/000162828024020288/0001628280-24-020288-index.htm
- Material Agreements
  RCI HOSPITALITY HOLDINGS, INC. entered into Loan Agreement with Centennial Bank valued at $20.0 million (effective 2024-04-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Centennial Bank
  - Value: $20.0 million
  - Effective: 2024-04-30
  source text: On April 30, 2024, our wholly-owned subsidiary RCI Holdings, Inc. (“RCI Holdings”) entered into and closed a term loan with Centennial Bank for $20.0 million (the “Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/935419/000162828024020288/0001628280-24-020288-index.htm

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