RideNow Refinances $220M Term Loan with Centerbridge, Extending Maturity to 2031
RDNW sits 89% above its 52-week low of $3.2.
Summary
RideNow refinanced its $220M term loan with Centerbridge Partners, extending maturity to 2031 and resolving the November 2026 refinancing deadline. The new facility carries SOFR + 8.375% interest and includes a potential $50M ABL facility with Wells Fargo.
Updates
· PR Newswire — The new term loans bear interest at Adjusted Term SOFR plus 8.375% and mature September 25, 2031. RideNow is in advanced discussions with Wells Fargo for a $50M ABL facility expected to bear interest at Daily Simple SOFR plus 2.25%.
Key Events · Financing and Capital Events · RDNW
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$220M Term Loan Refinancing
RideNow entered into a new $220M senior secured term loan credit agreement with Centerbridge Partners and Alter Domus on September 25, 2026, fully refinancing the existing Oaktree credit agreement dated August 31, 2021.
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Maturity Extended to 2031
The new term loans mature on September 25, 2031, resolving the critical November 2026 refinancing deadline previously disclosed in the August 11, 2026 10-Q.
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High Interest Rate
Interest accrues at SOFR + 8.375% (with a 3.00% floor) or Base Rate + 7.375%, reflecting the company's credit profile after missing Q2 revenue and EBITDA estimates.
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Financial Covenants
The agreement requires a Consolidated First Lien Net Leverage Ratio stepping down from 4.75x to 3.25x by Q2 2029, and minimum Liquidity of $15M tested monthly.
Analysis · RDNW · Technology
RideNow replaced its existing Oaktree credit agreement with a new $220M senior secured term loan from Centerbridge Partners and Alter Domus, maturing September 25, 2031. This directly addresses the critical refinancing deadline previously disclosed in the August 11, 2026 10-Q, which flagged a November 2026 refinancing risk. The new facility carries a high interest rate of SOFR + 8.375% (with a 3.00% floor), reflecting the company's credit profile after missing Q2 revenue and EBITDA estimates. The deal also includes a $50M ABL facility in advanced discussions with Wells Fargo, though not yet binding. The refinancing removes near-term liquidity risk but at a steep cost of capital.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 34.9% of the 1020 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.54%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, RDNW was trading at $6.06 on NASDAQ in the Technology sector, with a market capitalization of approximately $236.4M. The 52-week trading range was $3.20 to $8.55. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.