CHANDLER, Ariz., Sept. 28, 2026 /PRNewswire/ — RideNow Group, Inc. (NASDAQ: RDNW) today announced that it 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 bearing interest at Adjusted Term SOFR, plus 8.375% per annum. The proceeds of the term loans were used to refinance in full the Company’s existing term loan credit agreement with Oaktree Fund Administration, LLC, which was terminated on the closing date. The new term loans mature on September 25, 2031.

“Securing this new term loan facility is a direct reflection of the underlying strength and trajectory of RideNow,” said Michael Quartieri, Chairman, Chief Executive Officer, and President. “Extending our debt maturity to 2031 eliminates near-term maturity risks and significantly enhances our financial flexibility. Further, the addition of an ABL facility with Wells Fargo in the near term will provide the Company with additional financial flexibility as we move forward. This transaction is the culmination of a transformational quarter for RideNow as we also introduced Clear Price, our new FTC compliant pricing model during the quarter. As a leader in the powersports dealership industry, we were one of the early adopters of FTC compliant pricing, which had a short-term negative impact on our August results. With a stronger balance sheet now locked in and our adoption of FTC compliant pricing behind us, the entire RideNow team remains focused on driving operational excellence and executing our long-term growth initiatives. To that end, we also completed the tuck-in acquisition of a Can-Am and Sea Doo dealer into our new Tallahassee location at the end of August.”

In tandem with the term loan refinancing, RideNow is in advanced discussions with Wells Fargo Bank, N.A. regarding a proposed $50 million senior secured ABL 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 to RideNow access to debt with lower cost to optimize its capital structure.

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 expected 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.

About RideNow Group, Inc.

RideNow Group, Inc. (NASDAQ: RDNW) is a powersports dealership group. We believe our powersports business 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-side vehicles, personal watercraft, snowmobiles, and other powersports products. We also offer parts, apparel, accessories, finance & insurance products and services, and aftermarket products from a wide range of manufacturers. We are one of the largest purchasers of pre-owned powersports vehicles in the United States and utilize our proprietary RideNow Cash Offer tool to acquire vehicles directly from consumers. To learn more, please visit us online at https:// www.ridenow.com.

Forward-Looking Statements

This press release contains “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995, which statements may be identified by words such as “expects,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking statements contained in this press release include, but are not limited to, statements about our future results of operations and financial position, business strategy and plans, the anticipated execution and terms of the ABL facility, the expected reduction in overall interest rates and cost of capital, our ability to maintain adequate inventory levels to meet customer demand, industry and market conditions, the sufficiency of our liquidity and capital resources, our ability to refinance or repay our indebtedness, and our objectives for future operations. Our actual future results and trends may differ materially depending on a variety of factors, including, but not limited to, the factors listed under the heading “Forward-Looking Statements” and “Risk Factors” in the Company’s SEC filings, as may be updated and amended from time to time. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Inquiries:
RideNow Group, Inc.
investors@ridenow.com

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SOURCE RideNow Group, Inc.