---
schema_version: "secwatch.filing_event.v1"
accession: "0001484778-23-000241"
form_type: "8-K"
ticker: "TDUP"
cik: "0001484778"
company_name: "ThredUp Inc."
filed_at: "2023-12-19T23:59:59+00:00"
generated_at: "2026-06-07T10:29:05.718082+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# ThredUp amends credit agreement, reduces Term B commitment from $38M to $22.5M

## Summary
- Term B Loan commitment reduced from $38M to $22.5M; no amounts outstanding.
- Negative covenant amended to permit stock repurchases under specified conditions.
- Financial covenants modified, including cash availability and fixed charge coverage ratio.
- Interest on cash deposits adjusted to Fed Funds Rate +/- small spreads.

## SEC filing metadata
- accession: 0001484778-23-000241
- form_type: 8-K
- ticker: TDUP
- cik: 0001484778
- company_name: ThredUp Inc.
- filed_at: 2023-12-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1484778/000148477823000241/0001484778-23-000241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1484778/000148477823000241/tdup-20231214.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001484778-23-000241
- JSON: https://secwatch.observer/filing/0001484778-23-000241.json
- Plain text: https://secwatch.observer/filing/0001484778-23-000241.txt

## Key facts
- Material Agreements
  ThredUp Inc. amended First Amendment to the Second Amended and Restated Loan and Security Agreement with Western Alliance Bank, as agent valued at reduce the aggregate commitment under "Term B Loan" facility from $38,000,000 to $22,500,000 (effective 2023-12-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Western Alliance Bank, as agent
  - Value: reduce the aggregate commitment under "Term B Loan" facility from $38,000,000 to $22,500,000
  - Effective: 2023-12-14
  source text: On December 14, 2023, ThredUp Inc. (the “Company”) together with certain of its subsidiaries as co-borrowers (collectively with the Company, the “Borrowers”) entered into the First Amendment to the Second Amended and Restated Loan and Security Agreement (the “Amendment”) with the lenders party thereto (the “Lenders”) and Western Alliance Bank, as agent (the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1484778/000148477823000241/0001484778-23-000241-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.