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):
September 30, 2005
AMERICA’S
CAR-MART, INC.
(Exact
name of registrant as specified in its charter)
Texas
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0-14939
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63-0851141
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(State
or other jurisdiction of incorporation)
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(Commission
file number)
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(I.R.S.
Employer Identification No.)
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802
Southeast Plaza Avenue, Suite 200, Bentonville, Arkansas
72712
(Address
of principal executive offices, including zip code)
(479)
464-9944
(Registrant’s
telephone number, including area code)
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:
o |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR
240.14d-2(b))
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o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
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Item
1.01. Entry
into a Material Definitive Agreement.
On
September 30, 2005, Colonial Auto Finance, Inc. (“Colonial”), a subsidiary of
America’s Car-Mart, Inc., a Texas corporation (the “Company”), entered into the
First Amendment to the Amended and Restated Agented Revolving Credit Agreement
(the “Amended ARCA”) with a group of lenders, including Bank of Arkansas, N.A.,
Great Southern Bank, First State Bank, Bank of Oklahoma, N.A., First State
Bank
of Northwest Arkansas and Sovereign Bank. Bank of Arkansas, N.A. serves as
the
agent for the lenders. Bank of Oklahoma, N.A. no longer serves as the paying
agent under the Amended ARCA. The Amended ARCA extends the maturity date
to
April 30, 2009 and reduces the interest rate by 25 basis points to, generally,
Prime minus 25 basis points.
Also
on
September 30, 2005, America's Car-Mart, Inc., an Arkansas corporation (“ACM”), a
subsidiary of the Company, and Texas Car-Mart, Inc. (“TCM”), a subsidiary of
ACM, entered into a Second Amendment to the Revolving Credit Agreement (the
“Amended RCA”) with Bank of Oklahoma, N.A. The Amended RCA increases the line of
credit from $5 Million to $10 Million, amends the Borrowing Base and collateral
to include certain real property and equipment, extends the maturity date
to
April 30, 2009 and reduces the interest rate by 25 basis points to, generally,
Prime minus 25 basis points.
The
descriptions above are summaries and are qualified in their entirety by the
amended agreements, which are filed as exhibits to this report and incorporated
herein by reference.
Item
2.03. Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
The
information set forth above under Item 1.01 is hereby incorporated by reference
into this Item 2.03.
Item
9.01. Financial
Statements and Exhibits.
(c)
Exhibits.
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Exhibit
4.1 |
First
Amendment to Amended and Restated Agented Revolving Credit Agreement,
dated September 30, 2005, among Colonial Auto Finance, Inc., as
borrower,
Bank of Arkansas, N.A., Great Southern Bank, First State Bank,
Bank of
Oklahoma, N.A., First State Bank of Northwest Arkansas and Sovereign
Bank
and one or more additional lenders to be determined at a later
date, Bank
of Arkansas, N.A., as agent for the
banks.
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Exhibit
4.2 |
4.2 Second
Amendment to the Revolving Credit Agreement, dated September 30,
2005,
among America’s Car-Mart, Inc., an Arkansas corporation, and Texas
Car-Mart, Inc., as borrowers, and Bank of Oklahoma, N.A., as
lender.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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America’s
Car-Mart, Inc.
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Date:
October 4, 2005
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/s/
Tilman J. Falgout, III
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Chief
Executive Officer and General Counsel
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Exhibit
Index
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Exhibit
4.1 |
First
Amendment to Amended and Restated Agented Revolving Credit Agreement,
dated September 30, 2005, among Colonial Auto Finance, Inc.,
as borrower,
Bank of Arkansas, N.A., Great Southern Bank, First State Bank,
Bank of
Oklahoma, N.A., First State Bank of Northwest Arkansas and Sovereign
Bank
and one or more additional lenders to be determined at a later
date, Bank
of Arkansas, N.A., as agent for the
banks.
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Exhibit
4.2 |
4.2 Second
Amendment to the Revolving Credit Agreement, dated September
30, 2005,
among America’s Car-Mart, Inc., an Arkansas corporation, and Texas
Car-Mart, Inc., as borrowers, and Bank of Oklahoma, N.A., as
lender.
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