Children's Place enters $25M Mithaq term loan, cuts remaining Mithaq facility availability to zero

Childrens Place, Inc.

The Children's Place and subsidiaries entered a $25.0M Shariah-compliant unsecured subordinated promissory note with Mithaq Capital SPC on Sept. 24, 2026, as second advance under $40.0M commitment.
Fourth Mithaq Term Loan matures April 16, 2031; interest at one-month SOFR plus 9.00% per annum, with monthly cash payments subject to deferment.
Proceeds will prepay amounts under Wells Fargo's $350.0M revolving credit facility, reduce vendor accounts payable, and fund general corporate purposes.
Mithaq is a controlling shareholder; Executive Chairman Turki Saleh A. AlRajhi is Mithaq Holding's Chairman/CEO, and President/Interim CEO Muhammad Asif Seemab is a Mithaq Managing Director.
Wells Amendment, SLR Amendment, and Subordination Amendment dated Sept. 24, 2026 do not increase commitments under the Wells Credit Agreement or SLR Loan Agreement.

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