FlexShopper, Inc. Files 8-K: Material Agreement and Financials
| Field | Detail |
|---|---|
| Company | Flexshopper, Inc. |
| Form Type | 8-K |
| Filed Date | Aug 18, 2025 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $180,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, filing
TL;DR
FlexShopper 8-K: Material agreement signed, triggering financial obligations. Check financials.
AI Summary
On August 12, 2025, FlexShopper, Inc. entered into a material definitive agreement related to a triggering event that accelerates or increases a direct financial obligation. The filing also includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates a significant financial event for FlexShopper, Inc., potentially impacting its obligations and financial reporting.
Risk Assessment
Risk Level: medium — The filing details a material definitive agreement and a triggering event that accelerates financial obligations, suggesting potential financial risk or change.
Key Players & Entities
- FlexShopper, Inc. (company) — Registrant
- August 12, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-37945 (commission_file_number) — SEC File Number
- 20-5456087 (ein) — IRS Employer Identification No.
- 901 Yamato Road, Suite 260 (address) — Business and mailing address
- Boca Raton, Florida 33431 (address) — Business and mailing address
FAQ
What type of material definitive agreement did FlexShopper, Inc. enter into?
The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in this summary.
What is the nature of the triggering event reported?
The triggering event accelerates or increases a direct financial obligation or an obligation under an off-balance sheet arrangement for FlexShopper, Inc.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on August 12, 2025.
What are the primary items included in this 8-K filing?
This 8-K filing includes information on the entry into a material definitive agreement, triggering events that accelerate financial obligations, and financial statements and exhibits.
Where is FlexShopper, Inc. incorporated and what is its business address?
FlexShopper, Inc. is incorporated in Delaware and its business address is 901 Yamato Road, Suite 260, Boca Raton, Florida 33431.
Filing Stats: 1,409 words · 6 min read · ~5 pages · Grade level 16.6 · Accepted 2025-08-18 17:15:25
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share FPAY The Nasdaq Stock Mar
- $180,000 — Lenders' legal counsel in the amount of $180,000. In addition, under the Forbearance Agr
Filing Documents
- ea0253760-8k_flex.htm (8-K) — 36KB
- ea025376001ex10-1_flex.htm (EX-10.1) — 40KB
- 0001213900-25-078003.txt ( ) — 250KB
- fpay-20250812.xsd (EX-101.SCH) — 3KB
- fpay-20250812_lab.xml (EX-101.LAB) — 33KB
- fpay-20250812_pre.xml (EX-101.PRE) — 22KB
- ea0253760-8k_flex_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. As previously disclosed, on March 27, 2024, FlexShopper 2, LLC, a wholly-owned indirect subsidiary of the Company (the "Borrower"), entered into that certain Credit Agreement, dated as of March 27, 2024, among the Borrower, Computershare Trust Company, National Association, as paying agent (the "Paying Agent"), Powerscourt Investments 50, LP, as administrative agent (the "Administrative Agent"), and the lenders party thereto (the "Lenders") (as amended by Amendment No. 1 to Credit Agreement, dated as of April 9, 2025, between the Borrower and the Administrative Agent, as further amended by Amendment No. 2 to Credit Agreement, dated as of April 30, 2025, between the Borrower and the Administrative Agent, and as further amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement"). On August 12, 2025, the Relevant Parties (as defined below) received a Notice of Events of Default and Reservation of Rights from the Administrative Agent (the "Notice"), asserting that a number of Events of Default (as defined in the Credit Agreement) and Servicer Defaults (as defined in the Servicing Agreement described below) and have occurred and are continuing under the provisions of the Credit Agreement and the Servicing Agreement, including without limitation, (i) Events of Default under Section 7.1(d) of the Credit Agreement as a result of the Borrower's misrepresentations under Section 4.8 of the Credit Agreement that the Borrower's financial statements delivered to the Administrative Agent and Lenders at least from and after December 31, 2022, were prepared in conformity with GAAP and fairly present, in all material respects, the financial position of the Borrower, and (ii) Events of Default under Section 7.1(d) of the Credit Agreement as a result of certain false and misleading information provided by Borrower to the Administrative Agent in connection with the Credit Agreement. On August
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . The exhibits listed in the following Exhibit Index are filed as part of this current report. Exhibit No. Description 10.1 Limited Forbearance and Reaffirmation, dated as of August 16, 2025, by and among FlexShopper 2, LLC, as borrower, FlexShopper, LLC, as guarantor, and Powerscourt Investments 50, LP, as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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. FLEXSHOPPER, INC. Date: August 18, 2025 By: /s/ John Davis Name: John Davis Title: President and Chief Operating Officer 3