secwatch.observer — SEC 8-K summary
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Issuer:     ACV Auctions Inc. (ACVA)
CIK:        0001637873
Form:       8-K
Filed at:   2024-06-26T23:59:59+00:00
Accession:  0001628280-24-030155
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

ACV Auctions enters $125M warehouse facility and amends JPMorgan credit line
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- $125M revolving warehouse facility via subsidiary ACV Capital Funding II, backed by auto floorplan loans.
- Facility arranged with Citibank as administrative agent; revolving period ends June 20, 2026.
- Advances bear interest at Term SOFR plus 0.11448% and a 3.00% margin, or Alternate Base Rate.
- Amendment to existing JPMorgan credit agreement permits the warehouse facility and adds 10 subsidiary guarantors.
- ACV Auctions provides limited indemnity and performance guaranty for the warehouse facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637873/000162828024030155/0001628280-24-030155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637873/000162828024030155/acva-20240620.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-030155

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