--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-24-034574" form_type: "8-K" ticker: "PLCE" cik: "0001041859" company_name: "Childrens Place, Inc." filed_at: "2024-03-14T23:59:59+00:00" generated_at: "2026-06-04T18:41:01.206687+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Children's Place receives $48.6M second tranche from Mithaq; board reconstituted ## Summary - Received $48.6M second tranche from Mithaq on March 8, 2024, completing $78.6M interest-free unsecured subordinated term loan. - Proceeds used to support operations, including overdue vendor payments. - Five directors resigned effective March 8; board reduced to six; Jane Elfers remains CEO. - Douglas Edwards appointed independent director; Turki AlRajhi appointed Chairman; board now controlled by Mithaq (owns >54%). - Company still expects to close $130M Gordon Brothers term loan in March 2024. ## SEC filing metadata - accession: 0001104659-24-034574 - form_type: 8-K - ticker: PLCE - cik: 0001041859 - company_name: Childrens Place, Inc. - filed_at: 2024-03-14T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 2.03, 1.01, 5.02, 5.03, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/tm248891d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-24-034574 - JSON: https://secwatch.observer/filing/0001104659-24-034574.json - Plain text: https://secwatch.observer/filing/0001104659-24-034574.txt ## Key facts - Debt Financings Childrens Place, Inc. incurred loan of up to $78.6 million in term loans, consisting of (a) an initial term loan in an aggregate principal amount of $30.0 mill with Mithaq Capital SPC at interest-free maturing not disclosed. - Instrument: loan - Principal: up to $78.6 million in term loans, consisting of (a) an initial term loan in an aggregate principal amount of $30.0 mill - Counterparty: Mithaq Capital SPC - Rate: interest-free - Maturity: not disclosed - Event: incurrence source text: of its subsidiaries entered into an interest-free, unsecured and subordinated promissory note, dated February 29, 2024, with Mithaq Capital SPC (“ Mithaq ”), providing for up to $78.6 million in term loans, consisting of (a) an initial term loan in an aggregate principal amount of $30.0 million (the “ Initial Term Loan ”) and (b) a delayed draw term loan commitment evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change Debby Reiner resigned as Director at Childrens Place, Inc.. - Action: resigned - Role: Director source text: the previously announced resignations from the Company’s board of directors (the “ Board ”) of Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer became effective evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change Muhammad Asif Seemab was appointed as Vice-Chairman of the Board at Childrens Place, Inc.. - Action: appointed - Role: Vice-Chairman of the Board source text: Muhammad Asif Seemab has also been appointed to the newly-created position of Vice-Chairman of the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change John E. Bachman resigned as Director at Childrens Place, Inc.. - Action: resigned - Role: Director source text: the previously announced resignations from the Company’s board of directors (the “ Board ”) of Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer became effective evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change Douglas R. Edwards was appointed as Director at Childrens Place, Inc.. - Action: appointed - Role: Director source text: the Board has appointed Douglas R. Edwards – who served in a number of different roles with Wells Fargo & Company before his retirement in 2022, including Executive Vice President and Interim General Counsel – to serve on the reconstituted Board as an independent director, which became effective March 14, 2024 evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change Norman Matthews resigned as Director at Childrens Place, Inc.. - Action: resigned - Role: Director source text: the previously announced resignations from the Company’s board of directors (the “ Board ”) of Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer became effective evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change Michael Shaffer resigned as Director at Childrens Place, Inc.. - Action: resigned - Role: Director source text: the previously announced resignations from the Company’s board of directors (the “ Board ”) of Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer became effective evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change Turki Saleh A. AlRajhi was appointed as Chairman of the Board at Childrens Place, Inc.. - Action: appointed - Role: Chairman of the Board source text: Turki Saleh A. AlRajhi has been appointed as the new Chairman of the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Executive change John A. Frascotti resigned as Director at Childrens Place, Inc.. - Action: resigned - Role: Director source text: Mr. John A. Frascotti elected to resign from the Board on March 8, 2024 evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm - Governance Changes Childrens Place, Inc.: Amendment No. 2 to Seventh Amended and Restated Bylaws eliminates Chairman-Elect position and creates Vice-Chairman position with same authority as Chairman in his absence (effective 2024-03-11). - Change: bylaw amendment - Effective: 2024-03-11 source text: On March 11, 2024, the Board approved and adopted an Amendment No. 2 to the Company’s Seventh Amended and Restated Bylaws (the “ Bylaw Amendment ”), which became effective the same day, to eliminate the position of Chairman-Elect, while providing for the position of Vice-Chairman of the Board with the same authority and responsibilities as the Chairman of the Board (solely in the absence of the Chairman of the Board in certain instances). evidence_url: https://www.sec.gov/Archives/edgar/data/1041859/000110465924034574/0001104659-24-034574-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.