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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 10/27/22 FlexShopper, Inc. 8-K:1,9 10/27/22 11:260K EdgarAgents LLC/FA |
Document/Exhibit Description Pages Size
1: 8-K Current Report HTML 40K
2: EX-10.1 Amendment No. 16 to Credit Agreement, Dated as of HTML 49K
October 21, 2022, Between Flexshopper 2, LLC, as
Borrower and Powerscourt Investment 32, Lp, as
Administrative Agent and Lender
6: R1 Cover HTML 47K
9: XML IDEA XML File -- Filing Summary XML 12K
7: XML XBRL Instance -- ea167628-8k_flexshopp_htm XML 15K
8: EXCEL IDEA Workbook of Financial Reports XLSX 8K
4: EX-101.LAB XBRL Labels -- fpay-20221027_lab XML 96K
5: EX-101.PRE XBRL Presentations -- fpay-20221027_pre XML 64K
3: EX-101.SCH XBRL Schema -- fpay-20221027 XSD 13K
10: JSON XBRL Instance as JSON Data -- MetaLinks 25± 33K
11: ZIP XBRL Zipped Folder -- 0001213900-22-066737-xbrl Zip 25K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): i October 27, 2022
(Exact name of registrant as specified in its charter)
| i Delaware | i 001-37945 | i 20-5456087 | ||
| (State
or other jurisdiction of incorporation) |
(Commission File Number) | (IRS
Employer Identification No.) |
| i 901
Yamato Road, i Suite 260 i Boca Raton, i Florida |
i 33431 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: ( i 855) i 353-9289
N/A
(Former name or former address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name
of each exchange on which registered | ||
| i Common Stock, par value $0.0001 per share | i FPAY | The i Nasdaq Stock Market LLC |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| i ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| i ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| i ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| i ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
C:
CURRENT
REPORT ON FORM 8-K
FlexShopper, Inc. (the “Company”)
October 27, 2022
Item 1.01. Entry into a Material Definitive Agreement.
On March 6, 2015, the Company, through a wholly-owned subsidiary (the “Borrower”), entered into a credit agreement (as amended and supplemented from time to time, the “Credit Agreement”) with Wells Fargo Bank, National Association, as paying agent, various lenders from time to time party thereto, and WE 2014-1, LLC, an affiliate of Waterfall Asset Management, LLC, as administrative agent and lender. The Borrower is permitted to borrow funds under the Credit Agreement based on the Company’s cash on hand and the Amortized Order Value of its Eligible Leases and Loans (as such terms are defined in the Credit Agreement), less certain deductions described in the Credit Agreement. Under the terms of the Credit Agreement, subject to the satisfaction of certain conditions, the Borrower may currently borrow up to $57,500,000 from the lender until the Commitment Termination Date (the “Commitment Amount”).
Effective September 27, 2022, WE 2014-1, LLC assigned 100% of its Commitments and all Loans to Powerscourt Investments 32, LP, an affiliate of Waterfall Asset Management, LLC.
On October 21, 2022, pursuant to Amendment No. 16 to the Credit Agreement between FlexShopper 2, LLC, as borrower, and Powerscourt Investments 32, LP, as administrative agent and lender, the Commitment Amount was increased to be up to $110,000,000. This amendment also replaced LIBOR references in the Credit Agreement with SOFR (Secured Overnight Financing Rate), as the basis for our interest payments under the Credit Agreement.
The foregoing description of Amendment No. 16 to the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 16 to Credit Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference into this Item 1.01.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The exhibit listed in the following Exhibit Index is filed as part of this current report.
| Exhibit No. | Description | |
| 10.1 | Amendment No. 16 to Credit Agreement, dated as of October 21, 2022, between FlexShopper 2, LLC, as borrower and Powerscourt Investment 32, LP, as administrative agent and lender. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
C:
C: 1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FLEXSHOPPER, INC. | |||
| Dated: October 27, 2022 | By: | /s/ Richard House | |
| Name: | Richard House | ||
| Title: | Chief Executive Officer | ||
2
C:
| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on / For Period end: | 10/27/22 | |||
| 10/21/22 | ||||
| 9/27/22 | ||||
| 3/6/15 | 3, 4, 8-K, 8-K/A | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/01/24 FlexShopper, Inc. 10-K 12/31/23 97:9.1M EdgarAgents LLC/FA 4/24/23 FlexShopper, Inc. 10-K 12/31/22 94:7.7M EdgarAgents LLC/FA 11/10/22 FlexShopper, Inc. 10-Q 9/30/22 80:6.2M EdgarAgents LLC/FA |