Regional Management Corp. Files 8-K

TL;DR

RMGT filed an 8-K on 3/29 for a material agreement & financials.

AI Summary

Regional Management Corp. filed an 8-K on March 29, 2024, reporting an entry into a material definitive agreement and financial statements. The filing details the company's corporate information, including its incorporation in Delaware and principal executive offices in Greer, South Carolina.

Why It Matters

This filing indicates significant corporate actions or agreements by Regional Management Corp., which could impact its business operations and financial standing.

Risk Assessment

Risk Level: low — The filing is a standard corporate disclosure and does not inherently present immediate risks.

Key Numbers

• 001-35477 — SEC File Number (Identifies the company's filing history with the SEC.)
• 57-0847115 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Regional Management Corp. (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• Greer, South Carolina (location) — Principal executive offices
• March 29, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.10 — e on Which Registered Common Stock, $0.10 par value RM New York Stock Exchang

Filing Documents

• rm-20240329.htm (8-K) — 80KB
• rm-ex10_1.htm (EX-10.1) — 1848KB
• rm-ex10_2.htm (EX-10.2) — 3571KB
• rm-ex10_3.htm (EX-10.3) — 1859KB
• rm-ex10_4.htm (EX-10.4) — 1827KB
• 0000950170-24-041128.txt ( ) — 10643KB
• rm-20240329.xsd (EX-101.SCH) — 26KB
• rm-20240329_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On March 29, 2024, Regional Management Corp. (the " Company ") and its wholly-owned subsidiary, Regional Management Receivables IV, LLC (" RMR IV "), entered into the Omnibus Amendment to Credit Agreement and Account Control Agreement and Consent, dated as of March 29, 2024 (the " RMR IV Amendment "), by and among the Company, as servicer, RMR IV, as borrower, the lenders party thereto, Wells Fargo Bank, National Association, a national banking association (" Wells Fargo "), as administrative agent, and Computershare Trust Company, N.A., a national banking association (as successor to Wells Fargo), acting through its Corporate Trust Services division, as account bank and backup servicer. The RMR IV Amendment amends the Credit Agreement, dated as of April 19, 2021 (the " RMR IV Credit Agreement "), by and among the Company, as servicer, RMR IV, as borrower, the lenders from time to time parties thereto, the agents from time to time party thereto, Wells Fargo, as account bank and backup servicer, and Wells Fargo, as administrative agent. The RMR IV Credit Agreement was previously filed with the Securities and Exchange Commission (the " SEC ") by the Company as Exhibit 10.2 to the Current Report on Form 8-K dated April 20, 2021. The RMR IV Amendment amends (a) the RMR IV Credit Agreement to address among other things (i) changes to the advance rate step downs, (ii) a change to the eligibility criteria to permit the use of FICO or VantageScore credit scores in connection with credit underwriting, (iii) changes to the calculation set forth in the "Excess Spread Percentage" definition to take into account whether one or more hedge agreements are in place, (iv) the addition of a "Three Month Average Excess Spread Percentage" definition in connection with the Borrower's hedging requirements, (v) the addition of a hedge reserve account which must be established and maintained by the Borrower if on any determination dat

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Omnibus Amendment to Credit Agreement and Account Control Agreement and Consent, dated as of March 29, 2024, by and among Regional Management Corp., as servicer, Regional Management Receivables IV, LLC, as borrower, the lenders party thereto, Wells Fargo Bank, National Association, as administrative agent, and Computershare Trust Company, N.A. (as successor to Wells Fargo Bank National Association), acting through its Corporate Trust Services division, as account bank and backup servicer. 10.2 Amendment No. 5 to the Credit Agreement, dated as of March 29, 2024, by and among Regional Management Corp., as servicer, Regional Management Receivables V, LLC, as borrower, the lenders from time to time parties thereto, Wells Fargo Bank, National Association, acting through its Corporate Trust Services division, including its successors and permitted assigns, as account bank and backup servicer, and JPMorgan Chase Bank, N.A., as administrative agent. 10.3 First Amendment to Credit Agreement and Consent, dated as of March 29, 2024, by and among Regional Management Corp., as servicer, Regional Management Receivables VI, LLC, as borrower, the lenders parties thereto, and Regions Bank, as administrative agent. 10.4 First Amendment to Credit Agreement and Consent, dated as of March 29, 2024, by and among Regional Management Corp., as servicer, Regional Management Receivables VII, LLC, as borrower, the lenders parties thereto, and BMO Capital Markets Corp., as administrative agent. 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: April 3, 2024 By: /s/ Harpreet Rana Harpreet Rana Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR