SECURITIES AND EXCHANGE COMMISSION
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)
October 4, 2018
On Deck Capital, Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
(I. R. S. Employer
1400 Broadway, 25th Floor
New York, New York 10018
(Address of principal executive offices, including ZIP code)
(Registrant’s telephone number, including area code)
(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 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 x
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. x
Entry into a Material Definitive Agreement.
Loan Agreement Amendment
On October 4, 2018, On Deck Capital, Inc. (the “Company”) amended its existing $30 million revolving debt facility (the “Bank Facility”). On that date, the Company entered into that certain Third Amendment (the “Third Amendment”) to the Second Amended and Restated Loan and Security Agreement, dated as of June 30, 2016, by and between Pacific Western Bank (successor by merger to Square 1 Bank), as Lender, the Company, as Borrower, and certain of its wholly owned subsidiaries as Guarantors. As of June 30, 2018, there were no amounts outstanding under the Bank Facility.
The Third Amendment extended the maturity date of the Bank Facility to January 26, 2019 and made various technical, definitional, conforming and other changes. The Third Amendment did not alter or modify any economic terms including the Company's option to prepay without premium, penalty or additional fee, any amounts owing under the Bank Facility.
The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the Third Amendment, which will be filed as an exhibit to the Company's Annual Report on Form 10-K for the year ending December 31, 2018.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
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.
Date: October 10, 2018
On Deck Capital, Inc.
/s/ Cory R. Kampfer
Cory R. Kampfer
Chief Legal Officer