Oportun Financial Corp Files 8-K with Material Agreements

TL;DR

OPRT filed an 8-K on March 14th for events on March 8th, looks like a material agreement was signed.

AI Summary

Oportun Financial Corporation filed an 8-K on March 14, 2024, reporting on events that occurred on March 8, 2024. The filing indicates the entry into a material definitive agreement and includes financial statements and exhibits. Oportun Financial Corporation is incorporated in Delaware and headquartered in San Carlos, CA.

Why It Matters

This 8-K filing signals significant corporate actions or agreements by Oportun Financial Corp, which could impact its business operations, financial standing, or stock performance.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of a material definitive agreement and financial exhibits, not indicating immediate financial distress or significant negative events.

Key Numbers

• 001-39050 — Commission File Number (Identifies Oportun Financial Corp's filing with the SEC.)
• 45-3361983 — I.R.S. Employer Identification No. (Oportun Financial Corp's IRS identification number.)

Key Players & Entities

• Oportun Financial Corporation (company) — Registrant
• Progreso Financiero Holdings, Inc. (company) — Former Company Name
• 2 Circle Star Way, San Carlos, CA 94070 (location) — Principal Executive Offices Address

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share OPRT Nasdaq Global
• $5.7 million — April and May 2024, in amounts equal to $5.7 million per month. The Company will make those

Filing Documents

• oprt-20240308.htm (8-K) — 32KB
• oportunrf-eighthamendment.htm (EX-10.1) — 1080KB
• oprt-amendmentno3tocredita.htm (EX-10.2) — 1308KB
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• 0001538716-24-000028.txt ( ) — 2938KB
• oprt-20240308.xsd (EX-101.SCH) — 2KB
• oprt-20240308_lab.xml (EX-101.LAB) — 21KB
• oprt-20240308_pre.xml (EX-101.PRE) — 12KB
• oprt-20240308_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement Residual Financing Amendment On March 8, 2024, Oportun RF, LLC (the "RF Issuer"), a subsidiary of Oportun Financial Corporation (the "Company"), and Wilmington Trust, National Association, as indenture trustee, securities intermediary and depositary bank, entered into the Eighth Amendment to the Indenture (the "RF Indenture") dated December 20, 2021 (the "Eighth RF Indenture Amendment"), and other related documents (together with the Eighth RF Indenture Amendment, the "Eighth RF Amendment") related to the Company's asset-backed variable funding facility secured by certain residual cash flows from the Company's securitizations. The Eighth RF Amendment provides for a three-month principal payment holiday for the months of March, April and May 2024, in amounts equal to $5.7 million per month. The Company will make those principal payments that would have been paid towards the RF Indenture under Amendment No. 3 to the Credit Agreement instead, as further described below. In addition, the Eighth RF Amendment extends the term of the RF Indenture to January 2025, and makes certain other immaterial changes. A copy of the Eighth RF Amendment is filed with this Form 8-K as Exhibit 10.1 and incorporated by reference herein. The foregoing description of the Eighth RF Amendment is qualified in its entirety by reference to the full text of the Eighth RF Amendment. Amended Credit Agreement On March 12, 2023, the Company entered into an Amendment No. 3 to the Credit Agreement (the "Third Amendment"), by and among the Company, as borrower, the subsidiaries of the Company party thereto as guarantors, certain affiliates of Neuberger Berman Specialty Finance as lenders, and Wilmington Trust, National Association, as administrative agent and collateral agent (the "Agent"), which amended the Credit Agreement, dated as of September 14, 2022, as amended, by and among the Company, the lenders from time to time party thereto

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number 10.1^* Eighth Amendment to Indenture by and between Oportun RF, LLC and Wilmington Trust, National Association, dated as of March 8, 2024. 10.2^* Amendment No. 3 to Credit Agreement, dated as of March 12, 2024, by and among Oportun Financial Corporation, the Subsidiary Guarantors party thereto, Wilmington Trust, National Association, and the Lenders party thereto. 104 Cover Page Interactive Data File embedded within the Inline XBRL document ^ Certain portions of this exhibit have been omitted pursuant to Item 601(b)(10) of Regulation S-K by means of marking such portions with asterisks because the Registrant has determined that the information is not material and would likely cause competitive harm to the Registrant if publicly disclosed. *Certain portions of this exhibit have also been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally to the SEC a copy of any omitted schedule or exhibit upon request by the SEC. SIGNATURE 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 thereunto duly authorized. OPORTUN FINANCIAL CORPORATION (Registrant) Date: March 14, 2024 By: /s/ Jonathan Coblentz Jonathan Coblentz Chief Financial Officer and Chief Administrative Officer (Principal Financial Officer)

View Full Filing

View this 8-K filing on SEC EDGAR