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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported): January 28, 2021

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CCF HOLDINGS LLC

(Exact name of registrant as specified in its charter)

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5165 Emerald Parkway, Suite 100
Dublin OH 43017
(Address of principal executive offices) (Zip code)

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800-837-0381
(Registrant’s telephone number, including area code)

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N/A

(Former name or former address, if changed since last report)

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Securities Registered pursuant to Section 12(b) of the Act: none

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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 (see General Instruction A.2. below):

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◻   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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◻   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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◻   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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◻   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Indicate by check mark whether the registrant is an emerging growth company 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).

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Securities Registered pursuant to Section 12(b) of the Act: none

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Emerging growth company ⌧

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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. ◻

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Item 8.01 Other Events

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Refinancing Transaction Update

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As previously reported, on November 19, 2020, CCF Holdings LLC (“CCF”) executed a non-binding letter of intent (the “LOI”) with an unaffiliated third-party lender (the “LOI Counterparty”) for a new financing (the “Refinancing”) to be provided to a subsidiary of CCF, CCF OpCo LLC by the LOI Counterparty or one of its affiliates (such person, the “Lender”) with a targeted closing date of December 31, 2020 or, as soon as reasonably practicable thereafter. The LOI also provided for purchase of preferred equity in CCF by an affiliate of the LOI Counterparty. Negotiation and documentation have proceeded on the basis of the terms and conditions described in the LOI. Significant progress has been made towards that closing and, as of February 5, 2021, no material deviation from the terms and conditions of the proposed transaction in the LOI is contained in any of the draft documentation.

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Amendment to CCF Credit Facilities

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The applicable subsidiaries of CCF recently executed and delivered amendments and waivers to respective subsidiaries’ current credit facilities. On January 28, 2021, a waiver relating to an asset coverage test in CCF’s $40.0 revolving credit agreement became effective. On February 1, 2021, an amendment to CCF’s $69.0 credit facility became effective. This amendment increased the advance rate to 90% until February 28, 2021 and reduced an asset coverage test. The amendment and the waiver provide additional time to allow for the parties to continue to work towards the closing of the Refinancing. The terms of these credit facilities otherwise remain unchanged.

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Certain statements contained in this current report may constitute "forward-looking statements" within the meaning of federal securities laws. Although we believe that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations and the related statements are inherently subject to risks, uncertainties, and other factors, many of which are not under our control and may not even be predictable. In particular, the closing of the Refinancing and the issuance of the preferred is subject to the satisfaction of certain conditions specified in the LOI, including the completion of due diligence by the LOI Counterparty, the negotiation of definitive documentation and the receipt by CCF of certain approvals. There can be no assurance that the transactions contemplated by the LOI will close on the expected timeline and with the terms described in this report or at all. The forward-looking statements included herein speak only as of the date hereof, and CCF undertakes no responsibility to update them.

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SIGNATURES

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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.

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