The Children’s Place Announces $90 Million in New Unsecured Financing Provided by Majority Shareholder Mithaq Capital - Seite 2

Sheamus Toal, Chief Operating Officer and Chief Financial Officer of The Children’s Place, said, “We are pleased to have the continued support of our majority shareholder, and to have secured additional funding to address our liquidity needs on significantly more favorable terms in the aggregate than those contemplated by the Proposed Term Loan. We are now better positioned to deliver on our industry-leading digital strategy, while also remaining strongly focused on improving operational efficiency and profitability.”

Turki S. AlRajhi, Chairman of The Children’s Place and Chairman and CEO of Mithaq, stated, “We are pleased to demonstrate our continued commitment in decisive, self-explanatory actions. The financing agreement is not only in the best interest of all fellow shareholders and better than the alternative options, but also puts The Children’s Place in a stronger financial position.”

Since February 29, 2024, the Company has received $168.6 million in funding from Mithaq, composed of the $90 million New Mithaq Term Loan and the previously announced $78.6 million in interest-free, unsecured and subordinated term loan funding (the “Initial Mithaq Term Loans”).

Additional details regarding the New Mithaq Term Loan can be found in the Form 8-K to be filed by the Company with the Securities and Exchange Commission following the funding of the New Mithaq Term Loan.

About The Children’s Place
The Children’s Place is an omni-channel children’s specialty portfolio of brands with an industry-leading digital-first model. Its global retail and wholesale network includes four digital storefronts, more than 500 stores in North America, wholesale marketplaces and distribution in 16 countries through six international franchise partners. The Children’s Place is proud to be a women-led Company, including industry-leading gender diversity in senior management and throughout all levels of its workforce, and of its commitment to sustainable business practices that benefit its customers, associates, investors, suppliers and the communities it serves. The Children’s Place designs, contracts to manufacture, and sells fashionable, high-quality apparel, accessories and footwear predominantly at value prices, primarily under its proprietary brands: “The Children’s Place”, “Gymboree”, “Sugar & Jade”, and “PJ Place”. For more information, visit: www.childrensplace.com and www.gymboree.com, as well as the Company’s social media channels on Instagram, Facebook, X, formerly known as Twitter, YouTube and Pinterest.