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Actionable news in CONN: Conn's, Inc.,



Washington, D.C. 20549



Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2017

Conn’s, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-34956 06-1672840

(State or other jurisdiction

of incorporation)


File Number)

(IRS Employer

Identification No.)

4055 Technology Forest Blvd., Suite 210

The Woodlands, Texas

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (936) 230-5899

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:

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))

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.

Warehouse Financing of Receivables

On August 8, 2017, affiliates of Conns, Inc. (the “Company”) entered into a receivables warehouse financing transaction (the “Warehouse Transaction”). In connection with the Warehouse Transaction, Conn’s Receivables Warehouse, LLC (the “Warehouse Issuer”), a wholly-owned indirect subsidiary of the Company, will issue a variable funding asset-backed note (the “Note”) to be secured by certain customer receivable contracts (“Contracts”) (entered into to finance customer purchases of merchandise from the Company’s subsidiaries) and receivables evidenced thereby (“Receivables”). The Note may be funded from time to time in the sole discretion of the note purchasers party to that certain Note Purchase Agreement, dated as of February 24, 2017, as amended and made effective as of August 8, 2017 (the “Note Purchase Agreement”), by and among the Warehouse Issuer, Conn Appliances Receivables Funding, LLC, as depositor (the “Depositor”), Conn Appliances, Inc. (“Conn Appliances”), as servicer (in such capacity, the “Servicer”) and sponsor (in such capacity, the “Sponsor”), Credit Suisse AG, Cayman Islands Branch, as primary note purchaser (the “Primary Note Purchaser”), the conduits party thereto from time to time, and Credit Suisse AG, New York Branch, as administrative agent (the “Administrative Agent”). The maximum principal amount permitted to be outstanding at one time under the Note Purchase Agreement is $100,000,000. The Company expects that the initial funding under the Note will occur on August 15, 2017, in the amount of $79,940,000, with the net proceeds thereof being...