M&A - NICHOLAS FINANCIAL INC

Form Type: 10-K

Filing Date: 2025-06-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025091151

Filing Summary: Old Market Capital Corporation, previously a specialized consumer finance company, has restructured its operations as a holding company with a controlling interest in Amplex Electric Inc., a broadband service provider in Ohio. The restructuring culminated from the agreement to sell finance receivables and assets to Westlake Financial, ceasing new loan originations as of April 2024. The company acquired 56.5% of Amplex in June 2024, which provides broadband internet, VOIP, and video services. Following this, the company invested additional capital in Amplex Holdings to increase its ownership stake. The report indicates a strategy shift towards broadband and potential investments in other industries for growth, aided by access to financing and existing relationships in the sector.

Form Type: 10-K/A

Filing Date: 2025-06-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025091714

Filing Summary: This document is an amendment to the Annual Report on Form 10-K for Old Market Capital Corporation, filed on June 30, 2025. The amendment revises the Audit Report, changing the date of the Independent Registered Public Accounting Firm's Opinion from June 27, 2024, to June 27, 2025. Additionally, there was an error in the question regarding internal control reporting under Section 404(b) of the Sarbanes-Oxley Act, which has been corrected from 'yes' to an unchecked response. The company discussed its acquisition of a majority of the common shares of Amplex Electric, Inc. on June 15, 2024, with details regarding the valuation of assets acquired during the acquisition process. The financial statements for the fiscal years ended March 31, 2024, and March 31, 2025, are presented fairly, in compliance with accounting standards.