Oportun Financial Corp. Enters Material Definitive Agreement
Ticker: OPRT · Form: 8-K · Filed: Jan 16, 2025 · CIK: 1538716
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Oportun Financial Corp. just signed a big deal, creating a new financial obligation.
AI Summary
On January 16, 2025, Oportun Financial Corp. entered into a material definitive agreement, creating a direct financial obligation. The company, previously known as Progreso Financiero Holdings, Inc., is incorporated in Delaware and headquartered in San Carlos, CA.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Oportun Financial Corp., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet its obligations.
Key Players & Entities
- Oportun Financial Corp. (company) — Registrant
- Progreso Financiero Holdings, Inc. (company) — Former Company Name
- January 16, 2025 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- San Carlos, CA (location) — Principal Executive Offices
FAQ
What type of material definitive agreement did Oportun Financial Corp. enter into?
The filing states that Oportun Financial Corp. entered into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
What is the nature of the direct financial obligation created?
The filing indicates the creation of a direct financial obligation, but the specific terms and amount of this obligation are not detailed in the provided text.
When was Oportun Financial Corp. previously known as Progreso Financiero Holdings, Inc.?
The date of the name change from Progreso Financiero Holdings, Inc. to Oportun Financial Corporation was January 4, 2012.
Where are Oportun Financial Corp.'s principal executive offices located?
Oportun Financial Corp.'s principal executive offices are located at 2 Circle Star Way, San Carlos, CA 94070.
What is the Commission File Number for Oportun Financial Corp.?
The Commission File Number for Oportun Financial Corp. is 001-39050.
Filing Stats: 625 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2025-01-16 16:59:27
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value per share OPRT Nasdaq Global
- $425.1 m — nnouncing the issuance of approximately $425.1 milli on one-year asset-backed notes (the
Filing Documents
- oprt-20250116.htm (8-K) — 28KB
- a2025-apressreleasefinal.htm (EX-99.1) — 11KB
- image_0a.jpg (GRAPHIC) — 62KB
- 0001538716-25-000003.txt ( ) — 250KB
- oprt-20250116.xsd (EX-101.SCH) — 2KB
- oprt-20250116_lab.xml (EX-101.LAB) — 21KB
- oprt-20250116_pre.xml (EX-101.PRE) — 12KB
- oprt-20250116_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement 2025-A Securitization On January 16, 2025, Oportun Financial Corporation (the "Company") issued a press release announcing the issuance of approximately $425.1 milli on one-year asset-backed notes (the "Notes") by Oportun Issuance Trust 2025-A (the "Issuer") and secured by a pool of its unsecured and secured personal installment loans (the "2025-A Securitization"). The 2025-A Securitization included five classes of fixed rate notes. The Notes were offered and sold in a private placement in reliance on Rule 144A under the U.S. Securities Act of 1933, as amended, and were priced with a weighted average yield of 6.95% per annum and a weighted average coupon of 6.15% p er annum. The Notes were issued pursuant to the Indenture dated as of January 16, 2025 (the "2025-A Indenture") entered into between the Issuer and Wilmington Trust, National Association, as indenture trustee, as securities intermediary and as depositary bank. A copy of the press release is attached hereto as Exhibit 99.1. The foregoing description of the 2025-A Securitization does not purport to be complete and is qualified in its entirety by reference to the text of the 2025-A Indenture, a copy of which will be filed as an exhibit to the Company's Annual Report on Form 10-K. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The disclosure provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit Number 99.1 Press Release dated January 16, 2025 104 Cover Page Interactive Data File embedded within the Inline XBRL document 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: January 16, 2025 By: /s/ Jonathan Coblentz Jonathan Coblentz Chief Financial Officer and Chief Administrative Officer (Principal Financial Officer)