Financing ·
America's Car-Mart, Inc. entered into a first amendment and limited waiver to its credit and guaranty agreement with…
CRMTAmericas Carmart Inc
America's Car-Mart, Inc. entered into a first amendment and limited waiver to its credit and guaranty agreement with Silver Point Finance, LLC and other lenders to address anticipated or existing defaults regarding liquidity and collateral coverage covenants. The amendment includes a $18.0 million fee to lenders, the appointment of two new independent directors, Gilbert Nathan and Michael Wartell, to the board and a special committee, and the resignation of CFO Jonathan Collins. The company is currently evaluating strategic alternatives including potential restructuring or M&A. America's Car-Mart, Inc. is a used car retailer and consumer finance provider.