Item 1.02. Termination of a Material Definitive Agreement

On July 8, 2020 (the "Redemption Date"), Oportun Funding VII, LLC, as issuer (the "Issuer"), a wholly-owned subsidiary of Oportun Financial Corporation (the "Company"), completed the redemption (the "Redemption") of all of the outstanding notes issued under its Series 2017-B asset-backed securitization transaction (the "Notes"). The Notes were issued pursuant to the Base Indenture dated as of October 11, 2017 (the "Base Indenture") entered into between the Issuer and Wilmington Trust, National Association, as trustee (the "Trustee"), as supplemented by the Series 2017-B Supplement to the Base Indenture, dated as of October 11, 2017 (the "Series Supplement"). The Issuer paid a redemption price of $200.0 million (the "Redemption Price") to the Trustee, plus the accrued and unpaid interest to, but not including, the Redemption Date, which is the amount sufficient to fund the Redemption and to satisfy and discharge the Issuer's obligations under the Notes and the Base Indenture. The Redemption Price was funded by drawing upon the Company's secured financing facility and using unrestricted cash.

Item 2.02. Results of Operations and Financial Condition

On July 8, 2020, the Company issued a press release providing a business update and announcing certain preliminary unaudited performance metrics for the second quarter ended June 30, 2020. A copy of the Company's press release is attached hereto as Exhibit 99.1 to this report. The information in this Form 8-K and the Exhibit attached hereto are being furnished pursuant to Item 2.02 of Form 8-K and therefore shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

Item 7.01. Regulation FD Disclosure

The information in the press release referred to above is also incorporated herein. The information provided pursuant to this Item 7.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section and shall not be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing. The furnishing of the information provided pursuant to this Item 7.01 is not intended to, and does not, constitute a determination or admission by the Company that the information provided pursuant to this Item 7.01 is material or complete, or that investors should consider such information before making an investment decision with respect to any security of the Company.

Item 9.01. Financial Statements and Exhibits



(d) Exhibits
Exhibit Number
99.1               Oportun Provides Business Update
                 Cover Page Interactive Data File embedded within the Inline XBRL
104              document

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses