---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-000100"
form_type: "8-K"
ticker: "XELB"
cik: "0001083220"
company_name: "XCel Brands, Inc."
filed_at: "2022-01-06T23:59:59+00:00"
generated_at: "2026-06-27T20:04:29.229715+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Xcel Brands enters $29M loan agreement with FEAC, LIBOR+7.5%, matures April 2025

## Summary
- Borrowed $29M term loan from FEAC-led lenders to refinance existing debt and for working capital/acquisitions.
- Interest at LIBOR+7.5% per annum; quarterly principal payments of $625k start March 31, 2022, maturity April 14, 2025.
- Covenants: min liquid assets $2.5-3M, fixed charge coverage >=1.00x, loan-to-value <=50%, min revenues stepping to $25M.
- Lenders granted right of first offer on future acquisitions financed by non-cash consideration.
- Loan secured by all assets of Xcel and nine subsidiary guarantors.

## SEC filing metadata
- accession: 0001558370-22-000100
- form_type: 8-K
- ticker: XELB
- cik: 0001083220
- company_name: XCel Brands, Inc.
- filed_at: 2022-01-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083220/000155837022000100/0001558370-22-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083220/000155837022000100/xelb-20211230x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-000100
- JSON: https://secwatch.observer/filing/0001558370-22-000100.json
- Plain text: https://secwatch.observer/filing/0001558370-22-000100.txt

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