MEDALLION FINANCIAL CORP. (NASDAQ:MFIN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On July14, 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, (i)the maturity date of the credit facility was extended to March15, 2018 and (ii)technical changes were implemented which improved the Trust’s flexibility under the credit facility.
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.
On July18, 2017, the Company issued a press release to the news media announcing the Amendment.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in the press release is being furnished, not filed, to Item 1.01. Accordingly, the information in the press release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Please note that this report and Exhibit 99.1 hereto contain forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, and growth. The Company’s actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors discussed under the heading “Risk Factors,” in the Company’s 2016 Annual Report on Form 10-K.
| Item 1.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
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Exhibit No. |
Description |
| 10.1 | Amendment No.4 to Amended and Restated Loan and Security Agreement, dated as of July14, 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. |
| 99.1 | Press release, dated July18, 2017. |
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MEDALLION FINANCIAL CORP ExhibitEX-10.1 2 d413326dex101.htm EX-10.1 EX-10.1 EXECUTION COPY Exhibit 10.1 AMENDMENT NO. 4 Dated as of July 14,…To view the full exhibit click here
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.
