{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-173727","form_type":"8-K","ticker":"DBI","cik":"0001319947","company_name":"Designer Brands Inc.","filed_at":"2023-06-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.368706+00:00","generated_at":"2026-06-13T17:44:28.883759+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Designer Brands raises tender offer price to $8.75-$10/share, secures $135M term loan","bullets":["Tender offer to repurchase up to $100M of Class A common shares; new price range $8.75-$10.00 per share (up from $7.00-$8.00).","Obtained $135M senior secured term loan to fund the tender offer; financing contingency removed.","Term loan bears interest at SOFR+7.0% or base rate+6.0% (floor 2.0%); matures June 2028.","ABL facility amended: margin increased by 0.25%, lenders granted second lien on term loan collateral.","Tender offer expires July 7, 2023; shareholders who tendered at original range outside new range must re-tender."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-173727","json":"https://secwatch.observer/filing/0001193125-23-173727.json","markdown":"https://secwatch.observer/filing/0001193125-23-173727.md","text":"https://secwatch.observer/filing/0001193125-23-173727.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1319947/000119312523173727/0001193125-23-173727-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1319947/000119312523173727/d520796d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T17:44:28.883759+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2548076a04d85815ff7a2bdaa09f7635f4f9d22e","claim":"Designer Brands Inc. incurred credit facility of $135,000,000 with PLC Agent LLC, as Administrative Agent and Lead Arranger at adjusted 3-month term SOFR, subject to a floor of 2.0%, plus 7.0% maturing June 23, 2028.","evidence_excerpt":"The Term Loan Credit Agreement provides for a senior secured term loan in the maximum aggregate principal amount of $135,000,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1319947/000119312523173727/0001193125-23-173727-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$135,000,000"},{"label":"Counterparty","value":"PLC Agent LLC, as Administrative Agent and Lead Arranger"},{"label":"Rate","value":"adjusted 3-month term SOFR, subject to a floor of 2.0%, plus 7.0%"},{"label":"Maturity","value":"June 23, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e5432c36e67dd97e0a656ce4c9588c335885d4fc","claim":"Designer Brands Inc. amended revolving credit with The Huntington National Bank, as Administrative Agent at increases the applicable margin on loans under the ABL Facility by 0.25%.","evidence_excerpt":"The Second Amendment amends the ABL Credit Agreement to permit the incurrence of the Term Loan, and also increases the applicable margin on loans under the ABL Facility by 0.25%","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1319947/000119312523173727/0001193125-23-173727-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Counterparty","value":"The Huntington National Bank, as Administrative Agent"},{"label":"Rate","value":"increases the applicable margin on loans under the ABL Facility by 0.25%"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"258793b62c7f1da4a903d4a388aed46dea7d875d","claim":"Designer Brands Inc. amended Second Amendment with The Huntington National Bank, as Administrative Agent (effective 2023-06-23).","evidence_excerpt":"Also on the Effective Date, the Company entered into a second amendment (the “Second Amendment”) by and among the Company and certain subsidiaries of the Company from time to time, as U.S. Borrowers, DBI Canada and other subsidiaries from time to time, as Canadian Borrowers (which are referred to, together with the U.S. Borrowers, as the “ABL Borrowers”), other loan parties, including certain subsidiaries of the Company as U.S. Guarantors (together with the ABL Borrowers, the “Loan Parties”), the lenders party thereto (the “Lenders”), and The Huntington National Bank, as Administrative Agent (the “ABL Administrative Agent”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1319947/000119312523173727/0001193125-23-173727-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"The Huntington National Bank, as Administrative Agent"},{"label":"Effective","value":"2023-06-23"}],"fact_type":"material_agreement"},{"claim_id":"565eb37fe668b0b47ecf1dafccc9bf2bbd2fd3de","claim":"Designer Brands Inc. entered into Term Loan Credit Agreement with PLC Agent LLC, as Administrative Agent and Lead Arranger valued at $135,000,000 (effective 2023-06-23).","evidence_excerpt":"On June 23, 2023 (the “Effective Date”), Designer Brands Inc. (the “Company”) entered into a credit agreement (the “Term Loan Credit Agreement”) among the Company, as U.S. borrower, Designer Brands Canada Inc., as Canadian borrower (the “DBI Canada” and, together with the Company, the “Term Loan Borrowers”), certain of the Company’s domestic subsidiaries as guarantors, the lenders party thereto, and PLC Agent LLC, as Administrative Agent and Lead Arranger.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1319947/000119312523173727/0001193125-23-173727-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PLC Agent LLC, as Administrative Agent and Lead Arranger"},{"label":"Value","value":"$135,000,000"},{"label":"Effective","value":"2023-06-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}