America's Car Mart Inc 8-K Filings

America's Car-Mart, Inc. (CRMT) says its agent and lenders extended the Scheduled Termination Date and temporary relief from the company's minimum liquidity thresholds and minimum Collateral Coverage Ratio through October 1, 2026. The lenders also extended waivers of certain anticipated or existing defaults under the credit agreement for the specified period, on previously disclosed terms.

The company says it has experienced or anticipates events of default, including failure or expected failure to meet certain financial covenants and reporting obligations. A board special committee continues evaluating strategic alternatives, with active discussions involving third parties, the agent and lenders; options may include financing, recapitalization, restructuring, mergers and acquisitions, or other transactions. The company says there is no assurance of a permanent waiver, a transaction or favorable outcome, or a sustainable capital structure, and identifies potential bankruptcy protection and a significant or complete loss for common stockholders among its risks.

America’s Car-Mart, Inc. (CRMT) shareholders approved an amendment to the 2024 Equity Incentive Plan at the annual meeting on September 23, 2026. The amendment increased the maximum aggregate shares authorized for issuance under the plan by 1,000,000, from 500,000 to 1,500,000, and increased the maximum shares issuable upon exercise of incentive stock options from 500,000 to 1,500,000. It became effective upon stockholder approval at the meeting.

Shareholders also approved an advisory resolution on named executive officer compensation and ratified Grant Thornton LLP as independent registered public accounting firm for the fiscal year ending April 30, 2027. The plan amendment received 2,051,933 votes for, 1,069,343 against and 3,350 abstentions.

AMERICAS CARMART INC (CRMT) reports that its lenders, led by Silver Point Finance, LLC, have agreed to a third short-term extension of the waiver period under its Credit and Guaranty Agreement, moving the Scheduled Termination Date from September 18, 2026 to September 24, 2026. This extension continues temporary relief from minimum liquidity and Collateral Coverage Ratio requirements during the extended period. The company discloses actual and anticipated events of default under the credit facility, including failures to meet financial covenants and reporting obligations, which are being temporarily waived for a specified period. A special board committee is overseeing an evaluation of strategic alternatives that may include financing, recapitalization, restructuring, or M&A transactions, but the company cautions there is no assurance any favorable transaction will occur, that a permanent waiver will be obtained, or that a sustainable capital structure will be achieved, and notes that common shareholders could face a significant or complete loss of investment, including through restructuring or dilution.

AMERICAS CARMART INC (CRMT) reports that its lenders under the existing Credit and Guaranty Agreement have agreed to a further short-term extension of covenant waivers. The Scheduled Termination Date of the waiver period has been pushed from September 11, 2026 to September 18, 2026 under a Second Extension.

The company continues to evaluate strategic alternatives through a special board committee, including potential financing, recapitalization, restructuring, mergers and acquisitions, and other transactions. It discloses existing or anticipated events of default under the credit facility, notes a substantial debt and liquidity strain, warns it may need to seek protection under bankruptcy or insolvency laws, and states that holders of its common stock could face a significant or complete loss of investment, as well as risk to continued Nasdaq listing.

America’s Car-Mart, Inc. (CRMT) reported a very weak first quarter for fiscal 2027 as severe capital constraints sharply reduced inventory and originations. Total revenues were $145.8 million, down 57.3%, with sales of $89.9 million down 67.5% from the prior-year quarter. Retail units sold fell 81.9% to 2,450 and average dealerships in operation dropped 39.0% to 94, driving same-dealership revenue down 47.5%.

Profitability deteriorated markedly: net loss widened to $69.0 million from $5.7 million, and loss per share was $8.28 versus $0.69. Gross margin compressed to 21.8% from 36.6% as lower-margin wholesale sales rose and fixed costs were spread over fewer retail units. Credit quality also weakened, with net charge-offs at 9.5% of average finance receivables versus 6.6%.

Liquidity and leverage remain key issues. Total debt declined to $623.9 million from $775.1 million a year earlier, but unrestricted cash was only $27.5 million. The company amended its Credit and Guaranty Agreement on June 19, 2026 to obtain covenant relief through at least September 11, 2026 and is pursuing financing and strategic alternatives via a Special Committee. Disclosures cite substantial doubt about the company’s ability to continue as a going concern and warn that common shareholders could suffer significant or complete losses in some scenarios.

AMERICAS CARMART INC (CRMT) reports that, under its existing First Amendment and Limited Waiver to its Credit and Guaranty Agreement, lenders led by Silver Point Finance have extended the waiver of certain anticipated or existing events of default from September 7, 2026 to September 11, 2026.

The company is conducting a board-overseen review of strategic alternatives, including potential financing, recapitalization, restructuring, mergers and acquisitions, and other transactions, and believes it has made significant progress, with active discussions continuing among third parties and its lending group.

The company cautions that it may not obtain a permanent waiver of defaults or additional covenant relief, may need to seek protection under bankruptcy or insolvency laws, and that holders of its common stock could experience a significant or complete loss of investment, while also facing risk to its Nasdaq listing and challenges from its substantial indebtedness and liquidity position.

America's Car-Mart reported weaker results for the fiscal year ended April 30, 2026. Total revenue was $1,281.5 million, down 7.9% from FY 2025, as retail units sold fell 14.3% to 48,891 despite a 3.4% increase in the average retail sales price to $20,064. The company recorded a net loss attributable to common shareholders of 139,151 (amounts in thousands), or $16.79 per share; adjusted loss per share was $3.71.

Net charge-offs were 27.6% of average finance receivables versus 25.9% a year earlier, and the allowance for credit losses rose to 25.15% of receivables, while management notes underlying credit behavior is relatively stable. The company consolidated 42 dealerships in the fourth quarter and reduced its active dealership count from 154 to 94 during the year, incurring $11.0 million of non-cash impairment and $4.0 million of restructuring-related charges.

Liquidity and capital structure remain the central focus. Total debt declined to $722.4 million, with debt net of total cash at $590.7 million and unrestricted cash increasing to $47.0 million, but the lack of a revolving credit facility constrains originations. A June 19, 2026 amendment to the Credit and Guaranty Agreement provides covenant relief and time to evaluate strategic and financing alternatives. Under ASC 205-40, management disclosed that these conditions raise substantial doubt about the company’s ability to continue as a going concern within one year unless additional financing or other transactions are completed.

America's Car-Mart entered a First Amendment and Limited Waiver to its Credit and Guaranty Agreement with Silver Point Finance and other lenders, temporarily waiving several existing and expected covenant defaults. The waiver covers failures to meet minimum liquidity and Collateral Coverage Ratio requirements, certain reporting obligations, and the expected inability to deliver an unqualified audit opinion for the year ended April 30, 2026. During a defined Specified Period running to a Scheduled Termination Date of September 7, 2026, with possible extensions to September 21 or November 6, 2026, the company must meet detailed milestones, enhanced reporting, and revised covenants, including weekly minimum liquidity of $7 million and $5 million at other times and a minimum Collateral Coverage Ratio of 1.25:1.00 as of June 30, 2026 or 1.20:1.00 thereafter. If all milestones and conditions are met and no other defaults exist, the waiver can become permanent; otherwise, it may terminate. The company will pay up to $18 million in aggregate fees to the agent and lenders in connection with the amendment and continues a strategic review that may involve financing, recapitalization, restructuring, mergers and acquisitions, or other transactions, while cautioning that outcomes are uncertain and a restructuring, including scenarios that could significantly dilute or eliminate existing equity, remains possible.

The filing also reports governance and leadership changes tied to the amendment. Director Julia K. Davis resigned, and the board expanded from ten to eleven members, appointing independent directors Gilbert E. Nathan and Michael J. Wartell, who join a reconstituted Special Committee overseeing the strategic review. Each new director entered an Independent Director Agreement providing $45,000 in monthly fees for at least three months, plus $4,000 per day when board commitments exceed four hours, along with customary indemnification and expense reimbursement. Chief Financial Officer Jonathan Collins will resign effective July 31, 2026, and Senior Vice President of Capital Markets Marie Persichetti will become CFO on August 1, 2026 with an increased annual base salary of $425,000 and a new $200,000 cash retention award on top of a prior $315,000 retention bonus. Chief Accounting Officer Vickie D. Judy received an additional $200,000 cash retention award, supplementing a previously disclosed $300,000 award. Both retention awards must generally be repaid on a post-tax basis if employment ends before the earlier of a change in control and one year after the award date, unless the departure qualifies as a "Qualifying Termination." The company emphasizes significant risks related to its high debt load, liquidity, covenant compliance, the success and timing of its strategic review, potential need to seek bankruptcy or insolvency protection, and the possibility that common shareholders could suffer a substantial or total loss of their investment.

America's Car-Mart, Inc. entered into an additional short-term arrangement with its lenders, extending their agreement not to exercise remedies for actual or anticipated defaults under its Credit and Guaranty Agreement to June 19, 2026. The company describes discussions with the agent and lenders as active and constructive and believes they are close to an interim amendment to the credit agreement to address these default-related concerns. However, it cautions there is no assurance that negotiations will result in a definitive amendment and highlights typical risks and uncertainties through forward-looking statement disclosures.

America's Car-Mart, Inc. obtained a short-term lender forbearance under its Credit and Guaranty Agreement, with agents and lenders agreeing not to exercise remedies for certain anticipated covenant and reporting defaults through June 12, 2026. These anticipated issues relate to minimum liquidity, collateral coverage, and borrowing base and liquidity reporting covenants.

The board also approved an Employee Retention Program for senior management and key employees. Named executive officers will receive cash retention awards, including $1,200,000 for CEO Douglas Campbell and $563,000 for CFO Jonathan Collins, subject to repayment if they depart before a defined retention date, except in specified qualifying terminations. The company granted stock option awards split into currently issuable “Initial Options” and “Contingent Options” that depend on stockholder approval of a plan amendment at the 2026 annual meeting. A special board committee continues to oversee a review of strategic alternatives, including financing, recapitalization, restructuring, and potential transactions, with no assurance any deal will result.

America’s Car-Mart, Inc. is launching a formal review of strategic alternatives and has hired Houlihan Lokey as financial advisor. The process may include financing, recapitalization, mergers and acquisitions, asset sales, or other transactions as the Board evaluates options for the business.

The Board created a three-member Special Committee, chaired by new independent director Adam Paul, to oversee this review and negotiate potential transactions, with final approval rights retained by the full Board. The Board also expanded its size from nine to ten members and entered into an Independent Director Agreement with Mr. Paul.

Under this agreement, Adam Paul receives cash fees and customary indemnification and expense advancement protections in exchange for his service and intensive involvement in the strategic alternatives review.

America’s Car-Mart, Inc. is closing 42 of its 136 dealership locations and reducing related support staff, and expects to record a non-cash impairment charge of approximately $14 million in the fourth quarter of fiscal 2026. Management links these actions to difficulty securing a non-recourse revolving warehouse credit facility, creating a near-term liquidity constraint despite an approximately $1.5 billion finance receivables portfolio that it believes exceeds total recourse obligations.

After the closures, the company will operate 94 dealerships across 12 states; the affected stores represent about 31% of the store base but only 18% of customers. Car-Mart plans to preserve liquidity by carrying less inventory, tightening underwriting, and prioritizing servicing and collections infrastructure, supported by technology platforms such as its Collections CRM and Pay Your Way digital payment system.

America’s Car-Mart reported a weak third quarter for fiscal 2026 as its capital structure transition and severe weather sharply reduced sales volumes. Retail units sold fell 22.1% to 10,275 and total revenue declined 12.0% to $286.8M, even as gross profit per unit improved 8.8% to $7,762.

The company swung to a net loss of $76.7M, or $9.25 per share, compared with a profit a year earlier, driven largely by a non-cash $47.0M valuation allowance against deferred tax assets and higher credit loss provisions and interest expense. Adjusted loss per share was $1.53.

Management continued its capital structure overhaul, closing a $300M term loan in October 2025 and completing a $161.3M asset-backed securitization in December. Debt to finance receivables rose to 60.8%, while total cash including restricted cash increased to $237.0M as of January 31, 2026.

America’s Car‑Mart (CRMT) entered a Credit and Guarantee Agreement for a $300 million senior secured term loan led by Silver Point, maturing on October 30, 2030. The facility is secured by finance receivables, inventory, and equity interests of certain subsidiaries, and is guaranteed by each credit party. Interest is 7.50% for Term Benchmark Loans or 6.50% for Base Rate Loans, with monthly or quarterly payments per the selected interest period.

The company used a portion of the proceeds to fully repay $162.9 million outstanding under its $350 million asset‑backed revolver and terminated that agreement, incurring $1.8 million in prepayment penalties. As a closing requirement, the company must terminate its Atlas loan and security agreement on or prior to November 14, 2025.

In connection with the financing, CRMT issued warrants for up to 937,487 shares at an exercise price of $22.63, exercisable in cash or on a cashless basis, expiring October 30, 2031, with customary registration rights. The agreement includes financial maintenance covenants, limits on additional borrowing and certain operating activities, and restrictions on dividends.

America’s Car-Mart, Inc. reported the results of its 2025 annual stockholder meeting held on September 25, 2025. The record date was July 31, 2025, when 8,545,223 shares of common stock were outstanding and entitled to vote.

Stockholders elected all nine director nominees, including Ann G. Bordelon, Jonathan Z. Buba, Douglas W. Campbell, Julia K. Davis, Daniel J. Englander, Brandi N. Joplin, Dawn C. Morris, Joshua G. Welch, and Jeffrey A. Williams, each receiving over six million votes in favor, with relatively few votes against or abstentions.

Investors also approved the advisory resolution on executive compensation, with 5,948,778 votes for, 45,365 votes against, and 359,302 abstentions. In addition, stockholders ratified the selection of Grant Thornton LLP as independent registered public accounting firm for the fiscal year ending April 30, 2026, with 7,450,867 votes for, 11,599 against, and 91,293 abstentions.

America's Car-Mart Inc. furnished an update on its recent performance by issuing a press release with operating results for the first quarter ended July 31, 2025. The company reported these quarterly results through a press release dated September 4, 2025, which is attached as Exhibit 99.1 to this report and incorporated by reference.

The information about these first-quarter results is being furnished under the securities laws rather than formally filed, which limits certain legal liabilities and means it is not automatically incorporated into other securities offerings. The filing also confirms that America's Car-Mart's common stock trades on the NASDAQ Global Select Market under the symbol CRMT.

America's Car Mart, Inc. filed an 8-K disclosing the entry into material agreements on August 28, 2025 related to a financing transaction. The filing lists a Purchase Agreement between Colonial Auto Finance, Inc. and ACM Funding, LLC, and a Sale and Servicing Agreement for ACM Auto Trust 2025-3 naming ACM Funding, LLC, America's Car Mart, Inc., Deutsche Bank National Trust Company (as Indenture Trustee, Calculation Agent and Paying Agent), and Systems & Services Technologies, Inc. (as Backup Servicer).

The filing also references Item 2.03, indicating the creation of a direct financial obligation or an off-balance-sheet arrangement, and includes a press release dated August 29, 2025. Exhibits listed include the agreements and the press release; no financial statements or numeric transaction terms are disclosed in the provided text.

America's Car-Mart Inc. reported that it has regained compliance with The Nasdaq Stock Market's periodic filing requirements. On August 13, 2025, the company received formal notice from Nasdaq confirming compliance with Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the SEC. The company also issued a press release on August 14, 2025, noting that Nasdaq now considers the matter closed, removing a potential overhang related to its listing status.