Old Market Capital Corp Enters Material Definitive Agreement

TL;DR

OMCC just signed a new loan agreement, creating a direct financial obligation.

AI Summary

On September 23, 2024, OLD MARKET CAPITAL Corp entered into a material definitive agreement, specifically a loan agreement with an undisclosed lender. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a new financial obligation for Old Market Capital Corp, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The creation of a new financial obligation, especially a loan, introduces financial risk that needs further evaluation.

Key Players & Entities

• OLD MARKET CAPITAL Corp (company) — Registrant
• September 23, 2024 (date) — Date of earliest event reported
• 0-26680 (other) — Commission File Number
• 59-2506879 (other) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $21,341,792 — d loan in the principal amount of up to $21,341,792 (the "Loan"). The purpose of the Loan i

Filing Documents

• omcc-20240923.htm (8-K) — 73KB
• omcc-ex10_1.htm (EX-10.1) — 382KB
• omcc-ex99_1.htm (EX-99.1) — 13KB
• img41748455_0.jpg (GRAPHIC) — 17KB
• 0000950170-24-123232.txt ( ) — 665KB
• omcc-20240923.xsd (EX-101.SCH) — 26KB
• omcc-20240923_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amplex Electric, Inc., an Ohio corporation ("Amplex") and subsidiary of Old Market Capital Corporation., a Delaware corporation, entered into a Reconnect Program Loan and Security Agreement (the "Loan Agreement") with the United States of America acting through the Administrator of the Rural Electric Services ("RUS"), pursuant to which RUS has extended Amplex a secured loan in the principal amount of up to $21,341,792 (the "Loan"). The purpose of the Loan is to finance the construction of a broadband infrastructure project to serve rural areas where at least 50% of the households are without sufficient access to broadband. Amplex has five years to draw funds under the Loan Agreement, which expires on October 31, 2029. The Loan is secured by all of Amplex's assets. The Loan bears interest at a rate of 2% per annum, calculated by daily accrual. All accrued interest and principal on advances will be deferred for a three year period ending on October 31, 2027, unless earlier payment is made by Amplex. At the end of the three-year deferral period, all unpaid accrued interest will be capitalized and added to the outstanding principal, and monthly payments will be established in an amount that amortizes the outstanding balance in equal payments over the remaining term of the Loan. The principal advanced pursuant to this Agreement and remaining unpaid, if any, and interest thereon, shall be due and payable on October 31, 2046. All, or a portion of the outstanding balance, of any advance made under the Loan Agreement may be prepaid on any payment date without penalty. The obligation of RUS to advance funds to Amplex under the Loan Agreement is subject to conditions that are customary for loans made by RUS, including the accuracy of Amplex's representations and warranties, no material adverse effect with respect to Amplex, no event of default, receipt of a financial requirement statement from Amplex, current financia

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On November 7 , 2024 Old Market Capital Corporation issued a press release announcing that its subsidiary Amplex Electric, Inc. has received formal approval from the United States Department of Agriculture that funding was approved for a loan of up to $21,341,792 awarded under the Rural Development Broadband ReConnect Program. The Company has five years to draw funds under this loan which expires October 31, 2029. The press release is filed with this Form 8-K as Exhibit 99.1. The Company intends to use the loan to build out fiber broadband to meet the requirements of the USDA Reconnect program in Ottawa and Sandusky County, Ohio over the next five years. In accordance with General Instruction B.2. of Form 8-K, the information in this Item 7.01 hereto is being furnished for informational purposes only and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, except as otherwise expressly stated in such filing.

01 Exhibits

Item 9.01 Exhibits (a) Not applicable (b) Not applicable (c) Not applicable (d) Exhibits: Exhibit # Description 10.1 Reconnect Program Loan and Security Agreement between Amplex Electric, Inc. and the United States of America acting through the Administrator of the Rural Electric Services*. 99.1 Press Release of the Company dated November 7, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain terms in the Loan Agreement have been omitted pursuant to Instruction 6 to Item 1.01 of Form 8-K because such terms are both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed. The registrant undertakes to furnish copies of any of the omitted schedules, exhibits and terms upon request by the Securities and Exchange Commission.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized. OLD MARKET CAPITAL CORPORATION (Registrant) Date: November 7, 2024 /s/ Charles Krebs Charles Krebs Chief Financial Officer (Principal Financial Officer)

View Full Filing

View this 8-K filing on SEC EDGAR