Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
OppFi Inc. incurred revolving credit of $150.0 million with UMB Bank, N.A. (as administrative agent) at Term Secured Overnight Financing Rate plus 7.50% maturing December 14, 2026.
- Instrument
- revolving credit
- Principal
- $150.0 million
- Counterparty
- UMB Bank, N.A. (as administrative agent)
- Rate
- Term Secured Overnight Financing Rate plus 7.50%
- Maturity
- December 14, 2026
- Event
- incurrence
Exact text from the filing
The Agreement provides for maximum borrowings of $150.0 million at an interest rate equal to the Term Secured Overnight Financing Rate plus 7.50% and a maturity date of December 14, 2026.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
OppFi Inc. terminated Ares SPV III Agreement with Ares Agent Service, L.P. as administrative agent and collateral agent, and the lenders party thereto valued at approximately $109.0 million (effective 2022-12-14).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Ares Agent Service, L.P. as administrative agent and collateral agent, and the lenders party thereto
- Value
- approximately $109.0 million
- Effective
- 2022-12-14
Exact text from the filing
On December 14, 2022, OppFi-LLC provided notice of termination of the Ares SPV III Agreement, effective December 14, 2022.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
OppFi Inc. entered into Revolving Credit Agreement with UMB Bank, N.A., as administrative agent and collateral agent, Randolph Receivables LLC, as Castlelake Representative, and the lenders party thereto valued at $150.0 million (effective 2022-12-14).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- UMB Bank, N.A., as administrative agent and collateral agent, Randolph Receivables LLC, as Castlelake Representative, and the lenders party thereto
- Value
- $150.0 million
- Effective
- 2022-12-14
Exact text from the filing
On December 14, 2022, Opportunity Financial, LLC, a Delaware limited liability company (“OppFi-LLC”) and subsidiary of OppFi Inc., a Delaware corporation (the “Company”), Opportunity Funding SPE IX, LLC, a Delaware limited liability company and wholly owned subsidiary of OppFi-LLC (“SPE IX Borrower”), and certain other subsidiaries of the Company as credit parties and guarantors, entered into a Revolving Credit Agreement (the “Agreement”), by and among OppFi-LLC, SPE IX Borrower, the other credit parties and guarantors thereto, UMB Bank, N.A., as administrative agent and collateral agent, Randolph Receivables LLC, as Castlelake Representative, and the lenders party thereto.
View on SEC.gov