Business Context and Reporting Period
Company: Medallion Financial Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: August 5, 2009 (Signed August 10, 2009)
Reporting Period: The filing primarily addresses a material agreement entered into on August 5, 2009, and references the Company's results of operations for the quarter ended June 30, 2009.
Key Financial Metrics
This filing does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The financial results for the quarter ended June 30, 2009, are referenced but not detailed within the text of this 8-K; they are contained in a press release attached as Exhibit 99.1.
Material Changes and Agreements
- Amendment to Credit Agreement: On August 5, 2009, Taxi Medallion Loan Trust III (an indirect wholly-owned subsidiary) entered into an amendment to its Loan and Security Agreement dated December 12, 2008.
- Parties Involved: The agreement involves Autobahn Funding Company LLC (Lender) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (Agent).
- Nature of Change: The amendment effectuated certain technical changes to the existing Credit Agreement.
Guidance, Outlook, and Risks
The filing does not provide specific management guidance, outlook, or risk factors within the text. It notes that the press release regarding the second-quarter results is furnished, not filed, and will not be incorporated by reference into future registration statements unless specifically identified.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated August 10, 2009) for specific financial results for the quarter ended June 30, 2009.
- Examine Exhibit 10.1 (Amendment No. 1 to Loan and Security Agreement) to understand the specific technical changes made to the credit facility.
- Verify the impact of the technical amendments on the subsidiary's borrowing capacity or covenants, as the 8-K text does not elaborate on the substance of these changes.