OppFi Taps $75M of $100M Credit Facility at 12.5% Interest
OPFI is trading near its 52-week low of $6.43 (0.3% above the low).
Summary
OppFi drew $75M of its $100M credit facility at 12.5% interest, with $25M remaining available through February 2027. The filing also confirms BNCCORP stockholders approved the pending acquisition.
Key Events · Financing and Capital Events · OPFI
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Initial $75M Draw on Credit Facility
OppFi's subsidiary borrowed $75.0 million on September 15, 2026 under the $100M Senior Secured Multi-Draw Term Loan Agreement dated August 10, 2026.
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Remaining $25M Availability
$25.0 million remains undrawn and available through February 10, 2027, with minimum draws of $5.0 million or the remaining commitment.
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High-Cost Debt Terms
Fixed interest rate of 12.50% per annum pre-Bank Acquisition, rising to 13.50% after closing, plus a 1.25% original issue discount per draw. Semi-annual amortization of 10% of funded principal.
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BNCCORP Stockholder Approval Confirmed
BNCCORP stockholders adopted the Merger Agreement on September 17, 2026. Closing remains subject to regulatory approvals and other customary conditions.
Analysis · OPFI · Finance
On September 15, 2026, OppFi drew $75 million from its $100 million senior secured term loan, leaving $25 million available through February 2027. The capital comes at a steep cost: a 12.5% fixed rate that rises to 13.5% after the BNCCORP acquisition closes, plus a 1.25% original issue discount. While expensive, the funds support growth in finance receivables and working capital. The draw occurs as the stock trades near its 52-week low, and the filing also confirms BNCCORP stockholders approved the acquisition on September 17—a key step toward becoming a bank holding company.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.4% of the 1637 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, OPFI was trading at $6.45 on NYSE in the Finance sector, with a market capitalization of approximately $549.6M. The 52-week trading range was $6.43 to $12.45. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.