ThredUp enters $70M amended credit facility; refinances $32M term loan

ThredUp Inc.

Aggregate borrowing ability increased to $70M via Term A ($32M fully drawn) and Term B ($38M undrawn).
Term A refinanced existing obligations; Term B available for eligible equipment purchases.
Maturity extended to five years from July 14, 2022; interest rate Prime Rate (floor 4.75%) + 1.25%.
Financial covenants include cash availability, minimum revenue, and Fixed Charge Coverage Ratio from Q1 2025.
Collateral covers substantially all personal property; change of control triggers event of default.

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