Regional Management Corp. Files 8-K/A Amendment

TL;DR

RMGT filed an 8-K/A amendment on June 20th, updating material agreements and financial obligations.

AI Summary

Regional Management Corp. filed an amendment (8-K/A) on June 20, 2024, to a report originally dated June 13, 2024. This amendment pertains to the entry into a material definitive agreement, the creation of a direct financial obligation, and Regulation FD disclosure. The filing is related to the company's financial activities and obligations.

Why It Matters

This amendment provides updated information regarding material agreements and financial obligations, which is crucial for investors to understand the company's current financial standing and commitments.

Risk Assessment

Risk Level: medium — Amendments to 8-K filings can indicate changes or clarifications to previously disclosed material events, potentially impacting financial obligations or agreements.

Key Players & Entities

• Regional Management Corp. (company) — Registrant
• 0000950170-24-075342 (filing_id) — Accession Number
• 20240620 (date) — Filing Date
• 20240613 (date) — Earliest Event Reported Date
• 979 Batesville Road, Suite B, Greer, South Carolina 29651 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value RM New York Stock Exchang
• $187.305 million — ompleted a private offering and sale of $187.305 million principal amount of asset-backed notes
• $215.7 million — gate principal balance of approximately $215.7 million as of May 31, 2024 (the " Loans "), and
• $128.135 million — 1 Securitization: Principal Amount: $128.135 million (Class A) $15.170 million (Class B)
• $15.170 million — Amount: $128.135 million (Class A) $15.170 million (Class B) $19.105 million (Class C)
• $19.105 million — (Class A) $15.170 million (Class B) $19.105 million (Class C) $24.895 million (Class D)
• $24.895 million — (Class B) $19.105 million (Class C) $24.895 million (Class D) $187.305 million (Total)
• $500 — an amount financed that is greater than $500 and less than $50,000, (ii) has an orig
• $50,000 — that is greater than $500 and less than $50,000, (ii) has an original and current annua

Filing Documents

• rm-20240613.htm (8-K/A) — 95KB
• rm-ex4_1.htm (EX-4.1) — 879KB
• rm-ex10_1.htm (EX-10.1) — 1325KB
• rm-ex10_2.htm (EX-10.2) — 1117KB
• rm-ex99_1.htm (EX-99.1) — 17KB
• img126415946_0.jpg (GRAPHIC) — 25KB
• 0000950170-24-075342.txt ( ) — 4074KB
• rm-20240613.xsd (EX-101.SCH) — 25KB
• rm-20240613_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Ninth Amendment to Senior Revolving Credit Facility On June 18, 2024, Regional Management Corp. (the " Company ") and certain of its subsidiaries entered into the Ninth Amendment to the Seventh Amended and Restated Loan and Security Agreement (the " Ninth Amendment "), among the Company and its subsidiaries named as borrowers therein (collectively with the Company, the " Revolving Borrowers "), the financial institutions named as lenders therein (the " Revolving Lenders "), and Wells Fargo Bank, National Association, as agent (the " Revolving Agent "). The Ninth Amendment amends the Seventh Amended and Restated Loan and Security Agreement, dated as of September 20, 2019 (the " Loan Agreement "), by and among the Revolving Borrowers, the Revolving Lenders, and the Revolving Agent. The Loan Agreement was previously filed with the Securities and Exchange Commission (the " SEC ") by the Company on September 20, 2019 as Exhibit 10.1 on Form 8-K. The Ninth Amendment amends the Loan Agreement to exclude from the Revolving Agent's collateral certain renewal loans that replace an existing refinanced loan that has been pledged to a securitization. For a complete description of the terms of the Ninth Amendment, see Exhibit 10.1 hereto. The foregoing description of the Ninth Amendment is only a summary, does not purport to be complete, and is qualified in its entirety by reference to the full text of the Ninth Amendment, which is incorporated by reference herein. 2024-1 Securitization On June 13, 2024 (the " Closing Date "), the Company completed a private offering and sale of $187.305 million principal amount of asset-backed notes (the " 2024-1 Securitization "). The 2024-1 Securitization consisted of the issuance of four classes of fixed rate asset-backed notes, the Class A 5.83% asset-backed notes (the " Class A Notes "), the Class B 6.45% asset-backed notes (the " Class B Notes "), the Class C 6.77% asset-bac

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On June 13, 2024, the Company issued a press release regarding the 2024-1 Securitization. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information set forth in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liability of that section. The information in this Item 7.01 of this Current Report on Form 8-K shall not be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated June 13, 2024, by and among Regional Management Issuance Trust 2024-1, as issuer, Regional Management Corp., as servicer, and Computershare Trust Company, N.A., as indenture trustee. 10.1 Ninth Amendment to Seventh Amended and Restated Loan and Security Agreement, dated as of June 18, 2024, by and among Regional Management Corp. and its subsidiaries named as borrowers therein, the financial institutions named as lenders therein, and Wells Fargo Bank, National Association, as agent. 10.2 Sale and Servicing Agreement, dated June 13, 2024, by and among Regional Management Receivables III, LLC, as depositor, Regional Management Corp., as servicer, the subservicers party thereto, Regional Management Issuance Trust 2024-1, as issuer, and Regional Management North Carolina Receivables Trust, acting thereunder solely with respect to the 2024-1A SUBI. 99.1 Press Release, dated June 13, 2024. 104 Cover Page Interactive Data File (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. Regional Management Corp. Date: June 20, 2024 By: /s/ Harpreet Rana Harpreet Rana Executive Vice President and Chief Financial Officer

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View this 8-K/A filing on SEC EDGAR