secwatch / observer
8-K filed July 25, 2023, 7:59 PM ET ticker OPFI CIK 0001818502
debt confidence high sentiment positive materiality 0.60

OppFi Inc. (OPFI): debt financing — OppFi upsizes revolving credit facility with Atalaya to $250 million

OppFi Inc.

Key facts

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. amended revolving credit of $200 million to $250 million with Midtown Madison Management LLC at Term Secured Overnight Financing Rate plus 7.5% maturing July 19, 2027.

Instrument
revolving credit
Principal
$200 million to $250 million
Counterparty
Midtown Madison Management LLC
Rate
Term Secured Overnight Financing Rate plus 7.5%
Maturity
July 19, 2027
Event
amendment
Exact text from the filing
The A&R Credit Agreement amends the Existing Credit Agreement to, among other things, increase the size of the facility under the Existing Credit Agreement from $200 million to $250 million
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OppFi Inc. amended A&R Credit Agreement with Midtown Madison Management LLC valued at $250 million (effective 2023-07-19).

Action
amendment
Agreement
credit facility
Counterparty
Midtown Madison Management LLC
Value
$250 million
Effective
2023-07-19
Exact text from the filing
On July 19, 2023 (the “Restatement Date”), Opportunity Financial, LLC, a Delaware limited liability company (“OppFi-LLC”) and subsidiary of OppFi Inc., a Delaware corporation (the “Company”), and Opportunity Funding SPE V, LLC, a Delaware limited liability company and wholly owned subsidiary of OppFi-LLC (“OF V Borrower”), entered into an Amended and Restated Revolving Credit Agreement (the “A&R Credit Agreement”), which amends and restates that certain Revolving Credit Agreement, dated as of April 15, 2019 (as amended, supplemented or otherwise modified prior to the Restatement Date, the “Existing Credit Agreement”), by and among OppFi-LLC, OF V Borrower, Opportunity Funding SPE VII, LLC, the other credit parties and guarantors thereto, Midtown Madison Management LLC as administrative agent and collateral agent, and the lenders party thereto.
View on SEC.gov

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Source: SEC EDGAR
accession 0001818502-23-000010
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