# EDGAR Filing Document

**Accession Number:** 0001889928
**File Stem:** 0001140361-26-006250
**Filing Date:** 2026-2
**Character Count:** 22432
**Document Hash:** c86bb59c4b0710ca69b29f564bfe0519
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-006250.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001140361-26-006250

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260220

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Flexential Corp.
- **CENTRAL INDEX KEY:** 0001889928

**ORGANIZATION NAME:**
- **EIN:** 593638780
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-05895
- **FILM NUMBER:** 26657363

**BUSINESS ADDRESS:**
- **STREET 1:** 600 FOREST POINT CIRCLE
- **STREET 2:** SUITE 100
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28273
- **BUSINESS PHONE:** 8885523539

**MAIL ADDRESS:**
- **STREET 1:** 600 FOREST POINT CIRCLE
- **STREET 2:** SUITE 100
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28273
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Flexential Corp.
- **CENTRAL INDEX KEY:** 0001889928

**ORGANIZATION NAME:**
- **EIN:** 593638780
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 600 FOREST POINT CIRCLE
- **STREET 2:** SUITE 100
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28273
- **BUSINESS PHONE:** 8885523539

**MAIL ADDRESS:**
- **STREET 1:** 600 FOREST POINT CIRCLE
- **STREET 2:** SUITE 100
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28273
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Flexential Corp.
- **CENTRAL INDEX KEY:** 0001889928

**ORGANIZATION NAME:**
- **EIN:** 593638780
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 600 FOREST POINT CIRCLE
- **STREET 2:** SUITE 100
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28273
- **BUSINESS PHONE:** 8885523539

**MAIL ADDRESS:**
- **STREET 1:** 600 FOREST POINT CIRCLE
- **STREET 2:** SUITE 100
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28273

------

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM ABS-15G

#### ASSET-BACKED SECURITIZER

#### REPORT PURSUANT TO SECTION 15G OF

#### THE SECURITIES EXCHANGE ACT OF 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

☐ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period

to<br>

Date of Report (Date of earliest event reported)

Commission File Number of securitizer:

Central Index Key Number of securitizer:

  <br> Name and telephone number, including area code, of the person to contact in connection with this filing.

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

☑ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: <u> 0001889928 </u>

<u> Flexential Co-Issuer, LLC </u> <br> (Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): <u> 0001889935 </u> <br>Central Index Key Number of underwriter (if applicable): <u> [Not applicable] </u>

<u> Garth Williams 415-748-9394 </u> <br> Name and telephone number, including area code, of the person to contact in connection with this filing

------

#### INFORMATION TO BE INCLUDED IN THE REPORT

---

| | |
|:---|:---|
| **Item 2.01** | **Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer** |

---

Disclosures under Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibit 99.1 to this Form ABS-15G.

#### Exhibits

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| [99.1](ef20066180_ex99-1.htm) | Independent Accountants' Agreed-Upon Procedures Report, dated January 9, 2026, of KPMG LLP |

---

------

#### SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **Flexential Corp.** | **Flexential Corp.** |
| Date: February 20, 2026 | Date: February 20, 2026 |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Garth Williams |

---

Name: Garth Williams <br> Title: Chief Financial Officer

------

## Exhibit 99.1

------

**Exhibit 99.1**<br>

---

| | |
|:---|:---|
| ![](image00002.jpg) |  |
|  | KPMG LLP<br> Suite 700<br> 20 Pacifica<br> Irvine, CA 92618-3391 |

---

#### Independent Accountants' Agreed-Upon Procedures Report
Flexential Parent Corporation (the "Company")

Deutsche Bank Securities Inc. (the "Structuring Agent")

(together, the "Specified Parties")

Re: Flexential Issuer, LLC and Flexential Co-Issuer, LLC, Secured Data Center Revenue Term Notes, Series 2026-1 – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "5.1-4 Flex Data Tape_Contract Details_with quantity added_Sept 2025 (incl ATL05&PDX04).xlsx" provided by the Structuring Agent on November 20, 2025, on behalf of the Company, containing information on 36,771 data center service order agreements (the "Service Orders") as of October 1, 2025 (the "Data File"), which we were informed are intended to be included as collateral in the offering by Flexential Issuer, LLC and Flexential Co-Issuer, LLC. The Company is responsible for the specified attributes identified by the Company in the Data File.

The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

&nbsp;&nbsp;&nbsp;&nbsp;• The term "compared" means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "recomputed" means recalculated and compared the result to the information shown and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the
 reporting threshold.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "reporting threshold" means that dollar amounts were within $1.00, percentages were within 0.1%, Customer Since Date was within 45 days, and Contract End Date was within 30 days.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Statistical Disclosure Date" means October 1, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Top 25 Tenants" means the top 25 tenants based on aggregated "Annualized Revenue" of the respective Service Orders in the Data File.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Regular Tenants" means tenants that are not Top 25 Tenants.

KPMG LLP, a Delaware limited liability partnership and a member firm of

the KPMG global organization of independent member firms affiliated with

KPMG International Limited, a private English company limited by guarantee.

------

![](image00001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Service Order Information" means electronic copies of the following documents provided by the Company: (i) data center service orders, amended and/or restated service orders, change order agreements, and master service
 agreements, (ii) Company's accounting system screenshots, and (iii) service order invoices. We make no representation regarding the validity or accuracy of the Servicer Order Information.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Supporting Information Files" means the following electronic data files provided by the Company, containing instructions and information on (i) service order name changes, (ii) contract term updates, (iii) monthly recurring
 revenue updates, (iv) quantity changes, and (v) auto renewal terms for the Selected Service Orders (defined below):

<br> – "6.2.2-1 FLEX 2026-1 KPMG Selected Sample.xlsx" provided on December 5, 2025;

<br> – "6.2.2-8 FLEX 2026-1 KPMG Selected Sample v.2.xlsx" provided on December 9, 2025;

<br> – "6.2.2-9 Flexential 2026-1 Initial Exceptions (Response).xlsx" provided on December 16, 2025; and

<br> – "Flexential 2026-1 Initial Exceptions 12.17.2025 (Response).xlsx" provided on December 17, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Mapping Information" means two electronic files entitled "6.2.2-4 Facilities Mapping List.xlsx" provided by the Company on December 5, 2025 and "1.4.1-128 Product Family Chart.png" confirmed by the Company on December 18, 2025,
 containing mapping information for Data Center Name, Site/Location, and Product Family with respect to the Service Orders.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Source Documents" means the Service Order Information, Supporting Information Files, and Mapping Information.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Instructions" means the instructions provided by the Company pertaining to a procedure, attribute, or methodology, as described in Exhibit B.

&nbsp;&nbsp;&nbsp;&nbsp;• The term "Provided Information" means the Statistical Disclosure Date, Source Documents, and Instructions.

The procedures we were instructed by the Company to perform and the associated findings are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;A. We randomly selected a sample of 100 Service Orders from the Data File as follows:

<br> (i) Selected one Service Order from each of the Top 25 Tenants' Service Orders (the "Top Tenant Sample"), and

<br> (ii) Selected 75 Service Orders from the Regular Tenants' Service Orders (the "Regular Tenant Sample").

The Top Tenant Sample and the Regular Tenant Sample constitute the "Selected Service Orders." A listing of the Selected Service Orders is attached hereto as Exhibit A. For purposes of this procedure, the Company did not inform us of the basis they used to determine the number of Services Orders we were instructed to randomly select from the Data File.

&nbsp;&nbsp;&nbsp;&nbsp;B. For each Selected Service Order, we compared or recomputed the specified attributes in the Data File listed in Exhibit B to or using the corresponding information included in the Source Documents, utilizing the Instructions, as applicable.
 The Company indicated that the absence of any of the information in the Source Documents or the inability to agree the indicated information from the Data File to the Source Documents for each of the attributes identified, utilizing the
 Instructions as applicable, constituted an exception.

We found such information to be in agreement, except as listed in Exhibit C.

------

![](image00001.jpg)

We were engaged by the Company to perform this agreed-upon procedures engagement. We conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Service Orders, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation.

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Service Orders to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Service Orders being securitized, (iii) the compliance of the originator of the Service Orders with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Service Orders that would be material to the likelihood that the issuer of the asset-backed securities will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations ("NRSROs").

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

---

| | |
|:---|:---|
|  | /s/ KPMG LLP |
| Irvine, California |  |
| January 9, 2026 |  |

---

------

#### Exhibit A

#### Selected Service Orders

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Selected Service**<br> **Order #** | **Service Order**<br> **Number \*** | **Top Tenant?** | **Selected Service**<br> **Order #** | **Service Order**<br> **Number \*** | **Top Tenant?** |
| 1 | 20261001 | yes | 26 | 20261026 | no |
| 2 | 20261002 | yes | 27 | 20261027 | no |
| 3 | 20261003 | yes | 28 | 20261028 | no |
| 4 | 20261004 | yes | 29 | 20261029 | no |
| 5 | 20261005 | yes | 30 | 20261030 | no |
| 6 | 20261006 | yes | 31 | 20261031 | no |
| 7 | 20261007 | yes | 32 | 20261032 | no |
| 8 | 20261008 | yes | 33 | 20261033 | no |
| 9 | 20261009 | yes | 34 | 20261034 | no |
| 10 | 20261010 | yes | 35 | 20261035 | no |
| 11 | 20261011 | yes | 36 | 20261036 | no |
| 12 | 20261012 | yes | 37 | 20261037 | no |
| 13 | 20261013 | yes | 38 | 20261038 | no |
| 14 | 20261014 | yes | 39 | 20261039 | no |
| 15 | 20261015 | yes | 40 | 20261040 | no |
| 16 | 20261016 | yes | 41 | 20261041 | no |
| 17 | 20261017 | yes | 42 | 20261042 | no |
| 18 | 20261018 | yes | 43 | 20261043 | no |
| 19 | 20261019 | yes | 44 | 20261044 | no |
| 20 | 20261020 | yes | 45 | 20261045 | no |
| 21 | 20261021 | yes | 46 | 20261046 | no |
| 22 | 20261022 | yes | 47 | 20261047 | no |
| 23 | 20261023 | yes | 48 | 20261048 | no |
| 24 | 20261024 | yes | 49 | 20261049 | no |
| 25 | 20261025 | yes | 50 | 20261050 | no |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Selected Service**<br> **Order #** | **Service Order**<br> **Number \*** | **Top Tenant?** | **Selected Service**<br> **Order #** | **Service Order**<br> **Number \*** | **Top Tenant?** |
| 51 | 20261051 | no | 76 | 20261076 | no |
| 52 | 20261052 | no | 77 | 20261077 | no |
| 53 | 20261053 | no | 78 | 20261078 | no |
| 54 | 20261054 | no | 79 | 20261079 | no |
| 55 | 20261055 | no | 80 | 20261080 | no |
| 56 | 20261056 | no | 81 | 20261081 | no |
| 57 | 20261057 | no | 82 | 20261082 | no |
| 58 | 20261058 | no | 83 | 20261083 | no |
| 59 | 20261059 | no | 84 | 20261084 | no |
| 60 | 20261060 | no | 85 | 20261085 | no |
| 61 | 20261061 | no | 86 | 20261086 | no |
| 62 | 20261062 | no | 87 | 20261087 | no |
| 63 | 20261063 | no | 88 | 20261088 | no |
| 64 | 20261064 | no | 89 | 20261089 | no |
| 65 | 20261065 | no | 90 | 20261090 | no |
| 66 | 20261066 | no | 91 | 20261091 | no |
| 67 | 20261067 | no | 92 | 20261092 | no |
| 68 | 20261068 | no | 93 | 20261093 | no |
| 69 | 20261069 | no | 94 | 20261094 | no |
| 70 | 20261070 | no | 95 | 20261095 | no |
| 71 | 20261071 | no | 96 | 20261096 | no |
| 72 | 20261072 | no | 97 | 20261097 | no |
| 73 | 20261073 | no | 98 | 20261098 | no |
| 74 | 20261074 | no | 99 | 20261099 | no |
| 75 | 20261075 | no | 100 | 20261100 | no |

---

(\*) The Company has assigned a unique Service Order Number (Subscription Summary) to each service order in the Data File. The Service Order Numbers referenced in this Exhibit are not the actual Service Order Numbers (Subscription Summary).

------

#### Exhibit B

#### Attributes, Source Documents and Instructions

---

| | | |
|:---|:---|:---|
| **#** | **Attribute (Data File Attribute, if different)** | **Source Documents / Instructions** |
| 1 | Subscription Summary | Not applicable. Unique identifier for information purposes only. |
| 2 | Account Name | Service Order Information, Supporting Information Files |
| 3 | Customer Since Date (Customer Since) | Service Order Information |
| 4 | Data Center Name (Data Center) | Service Order Information<br>If Data Center Name was not listed in the Service Order Information, look up the Site/Location (Facility) in the Mapping Information and utilize the corresponding Data Center Name. |
| 5 | Market | Service Order Information |
| 6 | Site/Location (Facility) | Service Order Information<br>If Site/Location was not listed in the Service Order Information, look up the site code in the Mapping Information and utilize the corresponding Site/Location. |
| 7 | Contract Term (months) | Service Order Information, Supporting Information Files |
| 8 | Auto Escalator Percentage | Service Order Information |
| 9 | Product Family | Service Order Information<br>If Product Family was not listed in the Service Order Information, look up the area of responsibility in the Mapping Information and utilize the corresponding Product Family. |
| 10 | Quantity (units vary per Product Family and Business Service) | Service Order Information, Supporting Information Files |
| 11 | Auto Renewal Term<br>| Service Order Information, Supporting Information Files |
| 12 | MRR<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Order Information, Supporting Information Files<br>If MRR was listed in the Service Order Information or Supporting Information Files as of a date other than the Statistical Disclosure Date, recompute using the Auto Escalator Percentage and time between the listed as-of date and Statistical Disclosure Date and the following formula:<br>*MRR = listed MRR \* (1 + Auto Escalator Percentage) ^ n,*<br>*where n is equal to the time, in years, between the listed as-of date and Statistical Disclosure Date* |

---

------

---

| | | |
|:---|:---|:---|
| **#** | **Attribute (Data File Attribute, if different)** | **Source Documents / Instructions** |
| 13 | Contract End Date | Service Order Information, Supporting Information Files<br>If Contract End Date was not listed in the Service Order Information or Supporting Information Files, recompute as the contract start date listed in Service Order Information plus Contract Term (months). |
| 14 | Remaining Term | Recompute by rounding to the nearest integer, the number of days between the Statistical Disclosure Date and Contract End Date divided by 30.5. |

---

------

#### Exhibit C

#### Exceptions

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Selected**<br> **Service**<br> **Order #** | **Service Order**<br> **Number** | **Attribute** | **Per Data File** | **Per Source Documents** |
| 6 | 20261006 | Auto Escalator Percentage | 2.00% | 2.25% |
| 7 | 20261007 | Customer Since (Date) | 8/1/1994 | 11/2/2016 |
| 8 | 20261008 | Customer Since (Date) | 4/23/2021 | 2/9/2021 |
| 16 | 20261016 | Customer Since (Date) | 1/22/2013 | 10/14/2015 |
| 18 | 20261018 | Customer Since (Date) | 10/31/2016 | 5/22/2017 |
| 23 | 20261023 | Customer Since (Date) | 2/14/2011 | 4/20/2011 |
| 26 | 20261026 | Customer Since (Date) | 1/25/2005 | 1/25/2012 |
| 33 | 20261033 | Customer Since (Date) | 1/6/2006 | 2/26/2009 |
| 44 | 20261044 | Customer Since (Date) | 4/26/2006 | 4/6/2012 |
| 45 | 20261045 | Customer Since (Date) | 12/31/2016 | 3/1/2017 |
| 46 | 20261046 | Auto Escalator Percentage | 1.50% | 3.00% |
| 59 | 20261059 | Contract End Date | 3/31/2026 | 4/30/2026 |
| 59 | 20261059 | Customer Since (Date) | 12/30/2019 | 7/31/2019 |
| 62 | 20261062 | Customer Since (Date) | 9/21/2009 | 3/25/2009 |
| 64 | 20261064 | Customer Since (Date) | 6/30/2005 | 9/1/2015 |
| 70 | 20261070 | Customer Since (Date) | 10/9/2006 | 8/31/2009 |
| 71 | 20261071 | Customer Since (Date) | 9/10/2012 | 7/20/2011 |
| 73 | 20261073 | Customer Since (Date) | 11/16/2004 | 5/7/2019 |
| 77 | 20261077 | Customer Since (Date) | 10/25/2019 | 1/31/2020 |
| 85 | 20261085 | Customer Since (Date) | 4/18/2006 | 8/31/2009 |
| 86 | 20261086 | Contract Term (in months) | 118 | 38 |
| 94 | 20261094 | Auto Renewal Term (in months) | 1 | Not Available |

---

------