America's Car-Mart, Inc. Securitization Transaction

On December 17, 2025, America's Car-Mart, Inc. completed a securitization transaction, issuing $161,264,000 in aggregate principal amount of asset-backed, non-recourse notes. The transaction involved the sale of approximately $285.4 million in accounts receivable to an indirect subsidiary, which then sold them to ACM Auto Trust 2025-4. This trust issued two classes of notes: Class A notes totaling $128,155,000 with a 5.87% interest rate and a S&P rating of A(sf), and Class B notes totaling $33,109,000 with an 8.42% interest rate and a S&P rating of BBB(sf). The net proceeds of approximately $159.7 million will be used for general corporate purposes and to fund collection and reserve accounts. The notes are secured by the receivables and are intended to be treated as indebtedness for tax purposes. The transaction documents, including the Indenture, were filed with the SEC.