Oportun Financial Corp.

22/11/2024 | Press release | Distributed by Public on 22/11/2024 21:27

Material Agreement Form 8 K

Item 1.01. Entry into a Material Definitive Agreement
Personal Loan Warehouse Amendment
On November 22, 2024, Oportun PLW Trust, a subsidiary of the Company, Wilmington Trust, National Association as collateral agent, administrative agent, paying agent, securities intermediary and depositary bank and certain lenders from time to time party thereto, entered into an Amendment to the Loan and Security Agreement, dated as of September 8, 2021, as amended (the "PLW Amendment"), and other related documents (together with the PLW Amendment, the "Master Amendment") to amend certain provisions to increase the borrowing capacity to approximately $429.03 million. Under the Master Amendment, borrowings will accrue interest at a rate equal to Term SOFR plus a weighted average spread of 3.35%.
The foregoing description of the Master Amendment does not purport to be complete and is qualified in its entirety by reference to the text of the PLW Amendment, a copy of which will be filed as an exhibit to the Company's Annual Report on Form 10-K.