The Children's Place entered into an unsecured, subordinated promissory note for a $15.0 million term loan with Mithaq Capital to enhance liquidity. The loan bears interest at 1-month SOFR plus 9.00% per annum, payable monthly in cash with optional deferral, and matures on April 16, 2031. Proceeds will be used to prepay amounts under the company’s revolving credit facility, reduce vendor payables, and for general corporate purposes. Following this advance under its $40.0 million commitment, remaining availability was reduced to $25.0 million; the note is prepayable without penalty and is subordinated to the company’s Wells Fargo revolver and SLR term loan.
Agreement details:
- Agreement type: Unsecured subordinated term loan promissory note
- Counterparty: Mithaq Capital
- Signed / Effective: Jul 01 2026 / Jul 01 2026
- Duration / Termination: Through Apr 16 2031
- Reason: Reduce revolver borrowings, pay vendors, and fund general corporate purposes
Original SEC Filing:
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