The Children's Place, Inc. has announced that it has entered into an agreement and will raise $78.6 million on February 29, 2024. The transaction included participation from lender Mithaq Capital SPC providing for up to $78.6 million in term loans consisting of an initial term loan in an original aggregate principal amount of $30.0 million and a delayed draw term loan commitment amount of $48.6 million. The company has issued unsecured promissory notes in the transaction. The term loan will mature on February 15, 2027. No interest will accrue or be payable in respect of the security. The Promissory Note contains certain customary events of default, which include, nonpayment of principal, breach of other covenants in the Promissory Note, inaccuracy in representations or warranties, acceleration of certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of any part of the Promissory Note or the Letter Agreement. the Mithaq Term Loans are pre payable at any time and from time to time without penalty and do not require any mandatory prepayments.

On the same date, the company received $30 million in the transaction.