{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-229096","form_type":"8-K","ticker":null,"cik":"0001483510","company_name":"EXPRESS, INC.","filed_at":"2023-09-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.053648+00:00","generated_at":"2026-06-10T23:20:49.955576+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Express, Inc. enters $65M FILO term loan at SOFR+10% to repay ABL borrowings","bullets":["Term loan agreement with ReStore Capital LLC: $65M FILO loan, $32.5M funded September 5, 2023, remainder by September 13.","Proceeds used to pay down outstanding ABL borrowings without corresponding commitment reductions.","Interest: SOFR plus 10.00% per annum; quarterly amortization starting October 29, 2023 ($708K then $1.21875M).","Maturity: earlier of November 26, 2027 or termination of ABL commitments; second-priority lien on assets.","Fifth Amendment to ABL Credit Agreement permits the term loan on second-priority basis."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-229096","json":"https://secwatch.observer/filing/0001193125-23-229096.json","markdown":"https://secwatch.observer/filing/0001193125-23-229096.md","text":"https://secwatch.observer/filing/0001193125-23-229096.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1483510/000119312523229096/0001193125-23-229096-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1483510/000119312523229096/d516749d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T23:20:49.955576+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":"b30c74a134c6c951134ce9e8c243a4070c7348a2","claim":"EXPRESS, INC. incurred term loan of $65.0 million with ReStore Capital LLC at SOFR plus a pricing margin of 10.00% per annum maturing November 26, 2027.","evidence_excerpt":"The Term Loan Agreement provides the Borrower with a $65.0 million “first-in, last-out” term loan (the “FILO Term Loan”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1483510/000119312523229096/0001193125-23-229096-index.htm","confidence":1.0,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$65.0 million"},{"label":"Counterparty","value":"ReStore Capital LLC"},{"label":"Rate","value":"SOFR plus a pricing margin of 10.00% per annum"},{"label":"Maturity","value":"November 26, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"1ec3f39bf79e4ea6062be266318c0d5b51d52ea8","claim":"EXPRESS, INC. entered into Term Loan Agreement with ReStore Capital LLC valued at $65.0 million first-in, last-out term loan (effective 2023-09-05).","evidence_excerpt":"On September 5, 2023, Express, Inc. (the “Company”), Express, LLC (the “Borrower”), an indirect, wholly-owned subsidiary of the Company, and certain other direct or indirect, wholly-owned subsidiaries of the Company (collectively, with the Company, the “Guarantors” and, together with the Borrower, the “Loan Parties”) entered into an asset-based term loan agreement (the “Term Loan Agreement”) with ReStore Capital LLC, as administrative agent, collateral agent and lender, and the other lenders from time to time party thereto.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1483510/000119312523229096/0001193125-23-229096-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"ReStore Capital LLC"},{"label":"Value","value":"$65.0 million first-in, last-out term loan"},{"label":"Effective","value":"2023-09-05"}],"fact_type":"material_agreement"},{"claim_id":"9e3c431db3913e1ea64cf679ded2f63518aace99","claim":"EXPRESS, INC. amended Fifth Amendment to Second Amended and Restated Asset-Based Loan Credit Agreement with Wells Fargo Bank, National Association valued at Permitted the entry into the Term Loan Agreement on a second-priority basis to the ABL Credit Facili (effective 2023-09-05).","evidence_excerpt":"On September 5, 2023, the Loan Parties entered into a Fifth Amendment (the “Amendment”) to the Second Amended and Restated Asset-Based Loan Credit Agreement, dated as of May 20, 2015, among the Loan Parties, Wells Fargo Bank, National Association, as administrative agent and collateral agent, and the lenders party thereto (as amended, the “ABL Credit Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1483510/000119312523229096/0001193125-23-229096-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Wells Fargo Bank, National Association"},{"label":"Value","value":"Permitted the entry into the Term Loan Agreement on a second-priority basis to the ABL Credit Facili"},{"label":"Effective","value":"2023-09-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}