MEDALLION FINANCIAL CORP. (NASDAQ:MFIN) Files An 8-K Entry into a Material Definitive Agreement
ITEM1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On December12, 2016, Taxi Medallion Loan Trust III (the Trust),
an indirect wholly-owned subsidiary of Medallion Financial Corp.
(the Company), amended and restated the Loan and Security
Agreement, dated December12, 2008, by and among the Trust,
Autobahn Funding Company LLC and DZ Bank AG Deutsche
Zentral-Genossenschaftsbank, Frankfurt am Main (the Amended and
Restated Credit Agreement).Under the terms of the Amended and
Restated Credit Agreement, (i)the maturity date of the credit
facility was extended to June15, 2017 and (ii)other technical
changes were implemented.
The foregoing description is qualified in its entirety by
reference to the agreements which are attached as exhibits hereto
and are incorporated herein by reference in their entirety.
ITEM8.01. OTHER EVENTS.
On December13, 2016, the Company issued a press release to the
news media announcing, among other things, the Amended and
Restated Credit Agreement.
A copy of the press release is attached hereto as Exhibit99.1 and
is incorporated herein by reference. The information in the press
release is being furnished, not filed, to Item8.01. 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 Exhibit99.1 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 Companys 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 Companys 2015
Annual Report on Form10-K.
ITEM9.01. FINANCIAL STATEMENTS AND EXHIBITS.
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Exhibit No. |
Description |
|
| 10.1 |
Amended and Restated Loan and Security Agreement, dated as of December 12, 2016, among Taxi Medallion Loan Trust III, Autobahn Funding Company LLC, and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main. |
|
| 10.2 |
Amendment No. 1 to Second Amended and Restated Trust Agreement, dated as of December 12, 2016, by and among Medallion Funding LLC, U.S. Bank Trust, N.A. and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main. |
|
| 99.1 | Press release, dated December 13, 2016. |
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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. MEDALLION FINANCIAL CORP. (NASDAQ:MFIN) Recent Trading Information
MEDALLION FINANCIAL CORP. (NASDAQ:MFIN) closed its last trading session down -0.12 at 3.83 with 447,285 shares trading hands.