secwatch.observer — SEC 8-K summary
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Issuer:     ThredUp Inc. (TDUP)
CIK:        0001484778
Form:       8-K
Filed at:   2022-07-20T23:59:59+00:00
Accession:  0001484778-22-000120
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1484778/000148477822000120/0001484778-22-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1484778/000148477822000120/tdup-20220714.htm
  HTML page:      https://secwatch.observer/filing/0001484778-22-000120

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