secwatch.observer — SEC 8-K summary
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Issuer:     RideNow Group, Inc. (RDNW)
CIK:        0001596961
Form:       8-K
Filed at:   2026-09-28T13:00:47+00:00
Accession:  0001628280-26-063662
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

RideNow closes $220M senior secured term loan; refinances Oaktree debt, in talks for $50M Wells Fargo ABL
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- $220M senior secured term loan entered Sept 25, 2026 with Centerbridge affiliates and Alter Domus as agent; matures Sept 25, 2031, refinancing existing Oaktree term loan in full.
- Term loans pay Base Rate +7.375% or Adjusted Term SOFR (3.00% floor) +8.375%; 24-month non-call with make-whole plus 2.00% premium, then 2.00% until 36 months.
- Covenants: Consolidated First Lien Net Leverage Ratio max 4.80:1.00 from first full fiscal quarter after closing, stepping to 3.25:1.00 in Q2 2029; minimum liquidity $15M tested monthly.
- Amended/restated unsecured notes total $10.0M ($3,333,334 each) with SH Capital, Mark Tkach, Face Canyon; 13.0% interest (15.0% after maturity), PIK, mature Aug 31, 2028, subordinated.
- In advanced talks with Wells Fargo for $50M senior secured ABL revolver at Daily Simple SOFR +2.25%; no binding commitment; proceeds would refinance a portion of term loans and fund working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1596961/000162828026063662/0001628280-26-063662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1596961/000162828026063662/rmbl-20260925.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-063662

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