secwatch.observer — SEC 8-K summary
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Issuer:     CONSUMER PORTFOLIO SERVICES, INC. (CPSS)
CIK:        0000889609
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001683168-24-007743
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

CPSS amends warehouse facility: capacity increased to $225M from $200M
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- Credit agreement with Citibank N.A. as agent amended on Nov 1, 2024; capacity raised $25M to $225M.
- Added subordinate third-party lender increasing advance percentage based on receivables performance.
- Funding termination date extended to July 15, 2026; floating rate based on SOFR plus margin.
- Closing fee of approximately $250,000 paid to lenders.
- Facility secured by automobile receivables; CPS intends to draw as it purchases loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889609/000168316824007743/0001683168-24-007743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889609/000168316824007743/cps_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-007743

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer