RUSHB 8-K: BMO boosts floor plan facility to C$171.7 million

Rhea-AI Filing Summary

Rush Enterprises, Inc. (Nasdaq: RUSHA/RUSHB) filed a Form 8-K to disclose that on June 13, 2025 its subsidiary Rush Truck Centres of Canada Limited (RTC-Canada), with the Company acting as guarantor, executed a Third Amendment to the existing Amended and Restated BMO Wholesale Financing and Security Agreement with Bank of Montreal (BMO).

The amendment raises the total loan commitment under the RTC-Canada Floor Plan Credit Agreement from C$116.7 million to C$171.7 million, representing an increase of approximately C$55 million. All other core provisions of the facility remain as previously disclosed. The full text of the amendment is filed as Exhibit 10.1 and incorporated by reference.

No other items, financial statements or pro-forma financial information were included in this filing.

Positive

• Loan commitment increased to C$171.7 million, expanding financing capacity by approximately C$55 million under the BMO floor plan facility.

Negative

• None.

Insights

Financial Analyst

TL;DR: C$55 M increase in BMO floor plan facility strengthens inventory financing; modest positive for liquidity.

The 47% expansion of the BMO floor plan commitment gives RTC-Canada and the parent company greater flexibility to finance truck inventory, a key working-capital need for Rush Enterprises’ Canadian operations. Because the Company guarantees the facility, the lender’s willingness to extend additional credit signals confidence in Rush’s credit profile. While interest costs will scale with usage, the amendment is commitment-only; it does not obligate immediate additional borrowing. Overall, the larger credit line should help support sales growth without diluting shareholders, earning a positive impact rating.

Risk Analyst

TL;DR: Bigger credit line offers flexibility but could raise leverage if fully drawn; covenant details undisclosed.

The facility increase materially boosts available borrowing capacity, but the filing omits revised covenant thresholds, pricing grids or maturity extensions. Without that data, potential leverage and liquidity trade-offs remain unclear. Nonetheless, the absence of adverse terms and the bank’s willingness to upsize the line suggest a neutral-to-positive risk profile.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 13, 2025

Rush Enterprises, Inc.

(Exact name of registrant as specified in its charter)

Texas (State or other jurisdiction of incorporation)	0-20797 (Commission File Number)	74-1733016 (IRS Employer Identification No.)
555 IH-35 South, Suite 500 New Braunfels, Texas (Address of principal executive offices)		78130 (Zip Code)

Registrant’s telephone number, including area code: (830) 302-5200

Not Applicable

(Former name or former address, if changed since last report.)

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):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, par value $0.01 per share	RUSHA	Nasdaq Global Select Market
Class B Common Stock, par value $0.01 per share	RUSHB	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

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. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Effective June 13, 2025, Rush Truck Centres of Canada Limited (“RTC-Canada”), a subsidiary of Rush Enterprises, Inc. (the “Company”), and the Company, as guarantor, entered into the Third Amendment to the Amended and Restated BMO Wholesale Financing and Security Agreement (the “Third Amendment”) with Bank of Montreal (“BMO”), which amended that certain Amended and Restated BMO Wholesale Financing and Security Agreement, dated as of July 15, 2022, among RTC-Canada, BMO and the Company, as guarantor (the “RTC-Canada Floor Plan Credit Agreement”), as amended.

Pursuant to the terms of the Third Amendment, the RTC-Canada Floor Plan Credit Agreement was amended to increase the total loan commitment from $116.7 million CAD to $171.7 million CAD.

The foregoing description of the Third Amendment is qualified in its entirety by reference to the full text of the Third Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated in this Item 1.01 by reference.

Item 9.01 Financial Statements and Exhibits.

(d)         Exhibits

Exhibit No. Description

Exhibit 10.1 Third Amendment to the Amended and Restated BMO Wholesale Financing and Security Agreement, dated as of June 13, 2025, by and among RTC-Canada and BMO.

Exhibit 104 Cover Page Interactive Data File (formatted in Inline XBRL)

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.

	RUSH ENTERPRISES, INC.
Dated: June 18, 2025	By:	/s/ Michael Goldstone
		Michael Goldstone
		Senior Vice President, General Counsel and Corporate Secretary

FAQ

What did Rush Enterprises (RUSHB) announce in its June 13 2025 Form 8-K?

It disclosed a Third Amendment with BMO raising the RTC-Canada floor plan loan commitment from C$116.7 million to C$171.7 million.

By how much was the BMO loan commitment increased?

The commitment rose by approximately C$55 million (from C$116.7 million to C$171.7 million).

Which Rush subsidiary is party to the amended agreement?

Rush Truck Centres of Canada Limited (RTC-Canada) is the direct borrower, with Rush Enterprises, Inc. acting as guarantor.

Where can investors find the full text of the amendment?

The complete agreement is filed as Exhibit 10.1 to the Form 8-K.

Were any financial statements or pro-forma data included with this filing?

No. Item 9.01 lists only the amendment (Exhibit 10.1) and the cover-page XBRL file; no financial statements were provided.