RideNow Groups Secures New Loan Facility for Financial Flexibility

CHANDLER, Ariz., Sept. 28, 2026 /CourierPR/ -- RideNow Group, Inc., a powersports dealership group listed on the NASDAQ under the ticker symbol RDNW, has announced a significant financial move that will reshape its debt structure and enhance its financial flexibility. The company has entered into a new term loan credit agreement with affiliates of Centerbridge Partners, L.P., providing for $220 million in senior secured term loans, which will bear interest at Adjusted Term SOFR, plus 8.375% per annum. The proceeds from these term loans will be used to refinance in full the existing term loan credit agreement with Oaktree Fund Administration, LLC, which was terminated on the closing date.

The new term loans have a maturity date of September 25, 2031, and will significantly reduce near-term maturity risks for RideNow Group, Inc. This refinancing transaction underscores the company's commitment to maintaining a strong financial position, which will allow it to continue its growth initiatives and focus on operational excellence.

In tandem with the term loan refinancing, RideNow Group, Inc. is in advanced discussions with Wells Fargo Bank, N.A., regarding a proposed $50 million senior secured ABL (Asset-Based Lending) credit facility. Borrowings under the proposed ABL Facility are expected to bear interest at Daily Simple SOFR plus 2.25% per annum. The company expects to utilize a portion of the proceeds from the ABL Facility to pay down a portion of the $220 million term loan balance, subject to terms outlined in the term loan credit agreement. The ABL Facility is intended to provide the Company with additional financial flexibility as it moves forward with its long-term growth initiatives.

RideNow Group, Inc. is one of the largest purchasers of pre-owned powersports vehicles in the United States, offering a wide selection of new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products. The company's adoption of FTC compliant pricing, which had a short-term negative impact on its August results, is now behind them. With a stronger balance sheet now in place and their adoption of FTC compliant pricing, the entire RideNow team remains focused on driving operational excellence and executing their long-term growth strategies.

The ABL Facility is expected to be secured by a first-priority security interest in certain working capital assets and inventory. Additionally, the ABL Facility is intended to replace the used floorplan facility currently in place with Wells Fargo. Terms of the ABL Facility remain subject to final credit approval, negotiation, and execution of definitive loan documentation, and customary closing conditions.

RideNow Group, Inc. is a powersports dealership group that believes it is the largest powersports retail group in the United States, offering a wide selection of new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-by-vehicles, personal watercraft, snowmobiles, and other powersports products. The company also offers parts, apparel, accessories, finance & insurance products and services, and aftermarket products from a wide range of manufacturers. They are one of the largest purchasers of pre-owned powersports vehicles in the United States and utilize their proprietary RideNow Cash Offer tool to acquire vehicles directly from consumers.