America’s Car-Mart, Inc. (NASDAQ:CRMT) shares fell 12.30% to $0.83 in after-hours trading Thursday after the company disclosed additional borrowing under its credit agreement, an extension of lender relief and the redemption of asset-backed notes.
America’s Car-Mart operates a network of automotive dealerships focused on used vehicles and customer financing.
$5 Million Loan
According to an SEC filing, America’s Car-Mart entered into a second amendment to its credit agreement on Oct. 15, under which lenders agreed to provide $5 million in additional term loans for general corporate purposes. The loans mature on Oct. 30, 2030.
The company agreed to pay $200,000 in fees, which will be added to its outstanding principal balance.
Lender Relief Extended
On Oct. 20, the company’s lenders extended certain waivers and temporary relief from minimum liquidity and collateral coverage requirements through Nov. 1, 2026.
Notes Redeemed
An indirect subsidiary completed the redemption of all outstanding asset-backed notes on Oct. 20. Following the redemption, approximately $92 million in remaining receivables were released from the trust and are no longer pledged to secure the notes.
Trading Metrics, Technical Analysis
America’s Car-Mart has a market capitalization of approximately $7.89 million.
Over the past year, America’s Car-Mart shares have fallen approximately 96.4%.
The stock has traded between a 52-week high of $28.70 and a 52-week low of $0.57.
Benzinga Edge Stock Rankings indicate negative price trends in the short, medium and long terms.
Price Action: CRMT shares closed regular trading at $0.9464 on Thursday, up 43.46% for the session.
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