Recent Updates — RDNW
On September 25, 2026, RideNow Group, Inc. entered into a $220 million senior secured term loan credit agreement with affiliates of Centerbridge Partners, L.P., funded to refinance its existing debt. The new loans mature on September 25, 2031 and carry interest rates of Base Rate plus 7.375% or SOFR plus 8.375%. Concurrently, the company amended three unsecured promissory notes totaling approximately $10 million with affiliates SH Capital Partners, Mark Tkach, and Face Canyon LLC, maintaining original terms but extending maturity to August 31, 2028. The filing also disclosed advanced discussions with Wells Fargo for a potential $50 million asset-based revolving credit facility, though no binding commitment exists yet. RideNow Group operates in the automotive retail industry.
RideNow Group, Inc. reported second quarter 2026 financial results for the period ended June 30, 2026. Total revenue decreased 1.0% to $296.8 million, while same-store powersports revenue increased 3.0%. Net income improved to $6.5 million compared to a net loss of $32.2 million in the prior year period, which included a $34.0 million franchise right impairment charge. Adjusted EBITDA rose 19.2% to $20.5 million. The company also adopted its Third Amended and Restated Bylaws on August 5, 2026, updating procedures for remote meetings and exclusive forum designations. RideNow Group operates as a powersports dealership group in the United States.
On June 5, 2026, RideNow Group, Inc. appointed Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2026, and dismissed BDO USA, P.C. effective immediately. The company reported no disagreements with BDO on accounting principles or practices. However, the company disclosed ongoing material weaknesses in internal control over financial reporting as of December 31, 2024 and 2025, specifically regarding user access, segregation of duties, and financial close processes. BDO issued an adverse opinion on the effectiveness of internal controls for the 2024 fiscal year. RideNow Group, Inc. operates in the transportation industry providing ride-sharing services.