secwatch / observer
8-K filed April 4, 2023, 7:59 PM ET CIK 0001056285
earnings confidence high sentiment negative materiality 0.80

BRAND HOUSE COLLECTIVE, INC.: debt financing — Kirkland's Q4 net loss $3.8M, sales -6.1%; CEO retires; credit line expands to $90M

BRAND HOUSE COLLECTIVE, INC.

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Steve Woodward

Chief Executive Officer
BRAND HOUSE COLLECTIVE, INC.
Effective
2023-05-31
Filed
April 4, 2023, 7:59 PM ET
On April 4, the Company announced that its Chief Executive Officer Steve “Woody” Woodward would retire effective May 31, 2023.
Role change

Amy E. Sullivan

President and Chief Operating Officer
BRAND HOUSE COLLECTIVE, INC.
Effective
2023-04-05
Filed
April 4, 2023, 7:59 PM ET
The Company also announced the appointment of Amy E. Sullivan as President and Chief Operating Officer effective April 5, 2023.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BRAND HOUSE COLLECTIVE, INC. incurred revolving credit of $90 million senior secured revolving credit facility with Bank of America, N.A., as administrative agent and collateral agent, and lender at forward-looking Secured Overnight Financing Rate (“SOFR”) plus a margin ranging maturing March 2028.

Instrument
revolving credit
Principal
$90 million senior secured revolving credit facility
Counterparty
Bank of America, N.A., as administrative agent and collateral agent, and lender
Rate
forward-looking Secured Overnight Financing Rate (“SOFR”) plus a margin ranging
Maturity
March 2028
Event
incurrence
Exact text from the filing
The 2023 Credit Agreement expands the 2019 Credit Agreement from a $75 million senior secured revolving credit facility to a $90 million senior secured revolving credit facility.
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.7

BRAND HOUSE COLLECTIVE, INC. reported financial results for the fourth fiscal quarter and fiscal year ended January 28, 2023.

Period
the fourth fiscal quarter and fiscal year ended January 28, 2023
Result
reported results
Exact text from the filing
On April 4, 2023, the Company issued a press release reporting its results of operations for the fourth fiscal quarter and fiscal year ended January 28, 2023
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Woodward retired as Chief Executive Officer at BRAND HOUSE COLLECTIVE, INC..

Action
retired
Role
Chief Executive Officer
Exact text from the filing
On April 4, the Company announced that its Chief Executive Officer Steve “Woody” Woodward would retire effective May 31, 2023.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Amy E. Sullivan was appointed as President and Chief Operating Officer at BRAND HOUSE COLLECTIVE, INC..

Action
appointed
Role
President and Chief Operating Officer
Exact text from the filing
The Company also announced the appointment of Amy E. Sullivan as President and Chief Operating Officer effective April 5, 2023.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BRAND HOUSE COLLECTIVE, INC. entered into Third Amended and Restated Credit Agreement with Bank of America, N.A. valued at $90 million senior secured revolving credit facility (effective 2023-03-31).

Action
entry
Agreement
credit facility
Counterparty
Bank of America, N.A.
Value
$90 million senior secured revolving credit facility
Effective
2023-03-31
Exact text from the filing
On March 31, 2023, Kirkland's Inc. (the “Company”), entered into a Third Amended and Restated Credit Agreement (the “2023 Credit Agreement”), by and among the Company, which together with one of its subsidiaries, serves as a guarantor thereunder, the remaining of the Company’s subsidiaries as borrowers (the “Borrowers”), Bank of America, N.A., as administrative agent and collateral agent, and lender.
View on SEC.gov

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Source: SEC EDGAR
accession 0000950170-23-011698
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