OppFi Inc. Files 8-K on Material Definitive Agreement

Ticker: OPFI-WT · Form: 8-K · Filed: Sep 19, 2024 · CIK: 1818502

Oppfi Inc. 8-K Filing Summary
FieldDetail
CompanyOppfi Inc. (OPFI-WT)
Form Type8-K
Filed DateSep 19, 2024
Risk Levelmedium
Pages3
Reading Time4 min
Key Dollar Amounts$0.0001, $11.50, $20,000,000, $10,000,000
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

TL;DR

OppFi Inc. signed a new deal, expect financial updates soon.

AI Summary

On September 13, 2024, OppFi Inc. entered into a material definitive agreement related to a financial obligation. The company, formerly known as FG New America Acquisition Corp., filed this 8-K report with the SEC.

Why It Matters

This filing indicates a significant financial event for OppFi Inc., potentially impacting its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks that may affect the company's stability.

Key Players & Entities

  • OppFi Inc. (company) — Registrant
  • FG New America Acquisition Corp. (company) — Former company name
  • September 13, 2024 (date) — Date of earliest event reported
  • 130 E. Randolph Street, Suite 3400 Chicago, Illinois 60601 (address) — Principal Executive Offices

FAQ

What type of material definitive agreement did OppFi Inc. enter into?

The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this excerpt.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on September 13, 2024.

What was OppFi Inc.'s former company name?

OppFi Inc.'s former company name was FG New America Acquisition Corp.

Where are OppFi Inc.'s principal executive offices located?

OppFi Inc.'s principal executive offices are located at 130 E. Randolph Street, Suite 3400, Chicago, Illinois 60601.

What is OppFi Inc.'s IRS Employer Identification Number?

OppFi Inc.'s IRS Employer Identification Number is 85-1648122.

Filing Stats: 878 words · 4 min read · ~3 pages · Grade level 13.1 · Accepted 2024-09-19 17:21:51

Key Financial Figures

  • $0.0001 — stered Class A common stock, par value $0.0001 per share OPFI The New York Stock Excha
  • $11.50 — mon stock, each at an exercise price of $11.50 per share OPFI WS The New York Stock Ex
  • $20,000,000 — ing principal in installment amounts of $20,000,000 on the last day of the fiscal quarter e
  • $10,000,000 — al quarter ending on March 31, 2025 and $10,000,000 on the last day of each subsequent fisc

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 13, 2024 (the "Amendment Date"), Opportunity Financial, LLC, a Delaware limited liability company ("OppFi-LLC") and subsidiary of OppFi Inc., a Delaware corporation (the "Company"), certain additional subsidiaries of the Company, as guarantors, Midtown Madison Management LLC, as administrative agent, and the lenders party thereto entered into a Twelfth Amendment to Loan Agreement and Amendment to Security Agreement (the "12th Amendment"), which amended that certain Senior Secured Multi-Draw Term Loan Facility, originally entered into on November 9, 2018 (as amended, supplemented or otherwise modified prior to the Amendment Date, the "Existing Credit Agreement"), by and among OppFi-LLC, the other credit parties and guarantors thereto, Midtown Madison Management LLC as administrative agent, and the lenders party thereto. The 12th Amendment amended the Existing Credit Agreement to, among other things, extend the maturity date from March 30, 2025 to September 30, 2025 and require OppFi-LLC to repay outstanding principal in installment amounts of $20,000,000 on the last day of the fiscal quarter ending on March 31, 2025 and $10,000,000 on the last day of each subsequent fiscal quarter. The foregoing description of the 12th Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the 12th Amendment, which will be filed as an exhibit to the Company's quarterly report on Form 10-Q for the quarter ending September 30, 2024. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information regarding the 12th Amendment set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 2.03.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. The Company is furnishing as Exhibit 99.1 to this Current Report on Form 8-K and is incorporating herein by reference an investor presentation (the "Investor Presentation"), which may be used, in whole or in part, and subject to modification, at meetings with investors or analysts. The Investor Presentation speaks as of the date of this Current Report on Form 8-K. While the Company may elect to update the Investor Presentation in the future to reflect events and circumstances occurring or existing after the date of this Current Report on Form 8-K, the Company specifically disclaims any obligation to do so. This information and the information contained in Exhibit 99.1 is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing, regardless of any general incorporation language in the filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Index Exhibit Number Description 99.1 OppFi Inc. Investor Presentation dated September 2024 104 Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document)

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. Date: September 19, 2024 OppFi Inc. By: /s/ Pamela D. Johnson Pamela D. Johnson Chief Financial Officer

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