Mithaq takes 56.1% stake in Children's Place, triggering credit default and director nominations

Childrens Place, Inc.

Mithaq parties now beneficially own 7,001,387 shares (56.1%) of PLCE common stock, purchased for ~$97.8M.
Change of control triggered Event of Default under the Company's Amended and Restated Credit Agreement.
Company is negotiating with lenders for a waiver of the Event of Default and plans financing discussions with Mithaq.
Mithaq nominated 11 director candidates for election at the 2024 Annual Meeting, including Turki AlRajhi and Muhammad Seemab.
Mithaq also holds immediately exercisable call options for 250,000 additional common shares.

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