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TAXI > SEC Filings for TAXI > Form 8-K on 5-Aug-2013All Recent SEC Filings

Show all filings for MEDALLION FINANCIAL CORP

Form 8-K for MEDALLION FINANCIAL CORP


5-Aug-2013

Entry into a Material Definitive Agreement, Results of Operations and Fi


ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On July 29, 2013, the Small Business Administration (the "SBA") committed to reserve leverage in the form of debentures in an amount equal to $8.0 million (the "Commitment") to Freshstart Venture Capital Corp. ("Freshstart"), a wholly-owned subsidiary of Medallion Financial Corp. Freshstart accepted the Commitment on August 1, 2013 and paid to the SBA a leverage fee in the amount of $80,000.00. The remaining portion of the leverage fee in the amount of $160,000.00 will be deducted pro rata as Freshstart draws from the Commitment proceeds. Freshstart can draw from the Commitment proceeds, in whole or in part, until September 30, 2017, the Commitment's expiration date.

The foregoing description of the Commitment is qualified in its entirety by reference to the Commitment, which is attached as an exhibit hereto and is incorporated herein by reference in its entirety.



ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

Medallion Financial Corp. (the "Company") issued a press release to the news media announcing, among other things, the Company's results for the quarter ended June 30, 2013.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in the press release is being furnished, not filed, pursuant to Item 2.02. Accordingly, the information in the press release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.



ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit
  No.                                     Description

10.1         Commitment Letter, dated July 29, 2013, by the Small Business
             Administration to Freshstart Venture Capital Corp., accepted and
             agreed to by Freshstart Venture Capital Corp. on August 1, 2013.

99.1         Press release, dated August 5, 2013.


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