secwatch.observer — SEC 8-K summary
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Issuer:     Finance of America Companies Inc. (FOA)
CIK:        0001828937
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0001828937-24-000003
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Finance of America amends promissory notes: ups commitments to $85M, extends maturity to May 2025
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- Aggregate commitments increased from $60M to $85M; maturity extended from Nov 2024 to May 2025.
- Interest rate remains 10% (15% from May 15, 2024).
- New guarantee and security agreement adds Guarantors (FoA Funding, FoA Reverse, FoA Mortgage) and pledges additional collateral.
- Mandatory prepayment triggers include asset sales, equity issuances, and certain securitization proceeds with prepayment percentages up to 100%.
- Restrictive covenants limit indebtedness, restricted payments, asset sales, and liens; customary events of default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828937/000182893724000003/0001828937-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828937/000182893724000003/foa-20240130.htm
  HTML page:      https://secwatch.observer/filing/0001828937-24-000003

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