Form 8-K - Current report

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): November 18, 2024

   

ENOVA INTERNATIONAL, INC.

(Exact name of Registrant as Specified in Its Charter)


Delaware	1-35503	45-3190813
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

175 West Jackson Boulevard
Chicago, Illinois		60604
(Address of Principal Executive Offices)		(Zip Code)

    Registrant’s Telephone Number, Including Area Code: 312 568-4200

   

(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:

☐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
Common Stock, $.00001 par value per share	ENVA	New York Stock Exchange LLC

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).

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

RAOD Securitization Facility

On November 18, 2024, Receivable Assets of OnDeck, LLC (“RAOD”), On Deck Capital, Inc., and ODK Capital, LLC, each a wholly-owned indirect subsidiary of Enova International, Inc. (the “Company”), amended RAOD’s existing asset-backed revolving debt facility (the “RAOD Securitization Facility”) by entering into Amendment No. 10 to Fourth Amended and Restated Credit Agreement and Omnibus Amendment (the “Tenth Amendment”) with Vervent Inc. (f/k/a Portfolio Financial Servicing Company), as backup servicer, the lenders party thereto from time to time, Computershare Trust Company, National Association (as successor to Wells Fargo Bank, N.A.), as custodian and collateral agent, and Truist Bank, as administrative agent.

The following table summarizes certain key terms of the amended RAOD Securitization Facility:


	Class A Revolving Loans	Class B Revolving Loans	Total Facility
Commitment Amount	$200,000,000	$36,842,105.26	$236,842,105.26
Borrowing Rate	SOFR + 1.85%	SOFR + 7.60%	SOFR + 2.74%
Borrowing Base Advance Rate	76%	90.0%	90.0%
Revolving Period End Date	November 2026	November 2026	November 2026
Maturity Date	November 2027	November 2027	November 2027

The foregoing description of the Tenth Amendment does not purport to be complete and is qualified in its entirety by reference to the Fourth Amended and Restated Credit Agreement, as previously amended and as amended by the Tenth Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ending December 31, 2024.

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT

The information provided in Item 1.01 above is incorporated herein by reference.

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.


			Enova International, Inc.

Date:	November 18, 2024	By:	/s/ Sean Rahilly
			Sean Rahilly General Counsel & Secretary

Document And Entity Information	Nov. 18, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 18, 2024
Entity Registrant Name	ENOVA INTERNATIONAL, INC.
Entity Central Index Key	0001529864
Entity Emerging Growth Company	false
Entity File Number	1-35503
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3190813
Entity Address, Address Line One	175 West Jackson Boulevard
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60604
City Area Code	312
Local Phone Number	568-4200
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $.00001 par value per share
Trading Symbol	ENVA
Security Exchange Name	NYSE