MEDALLION FINANCIAL CORP. (NASDAQ:MFIN) Files An 8-K Entry into a Material Definitive Agreement
ITEM1.01.ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On June7, 2017, Taxi Medallion Loan Trust III (the Trust), an
indirect wholly-owned subsidiary of Medallion Financial Corp.
(the Company), entered into an amendment (the Amendment) which
amended the Amended and Restated Loan and Security Agreement,
dated as of December12, 2016 (the Credit Agreement), by and among
the Trust, Autobahn Funding Company LLC and DZ Bank AG Deutsche
Zentral-Genossenschaftsbank, Frankfurt am Main.Under the terms of
the Amendment, the maturity date of the credit facility was
extended to June30, 2017. The parties to the Credit Agreement are
currently in the process of negotiating and drafting an amendment
to the Credit Agreement to extend the term of such agreement for
a longer period and expect to enter into such amendment on or
before June30, 2017.
The foregoing description of the Amendment is qualified in its
entirety by reference to the Amendment, which is attached as an
exhibit hereto and is incorporated herein by reference in its
entirety.
ITEM9.01. FINANCIAL STATEMENTS AND EXHIBITS.
|
ExhibitNo. |
Description |
|
| 10.1 |
Amendment No.2 to Amended and Restated Loan and Security Agreement, dated as of June7, 2017, by and among Taxi Medallion Loan Trust III, Medallion Funding LLC, Medallion Financial Corp., Medallion Capital, Inc., Freshstart Venture Capital Corp., Autobahn Funding Company LLC, and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main. |
2
About MEDALLION FINANCIAL CORP. (NASDAQ:MFIN)
Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment. It originates and services medallion, secured commercial, and consumer loans, and invests in both marketable and nonmarketable securities. The Company’s subsidiary, Medallion Bank, also originates consumer loans for the purchase of recreational vehicles, boats, motorcycles, trailers, and to finance small-scale home improvements. The Company also conducts business through its asset-based lending division, Medallion Business Credit, an originator of loans to small businesses for the purpose of financing inventory and receivables.