XCel Brands, Inc. (XELB): debt financing — Xcel Brands enters loan amendment, adds $5.12M debt, cuts IM Topco ownership to 17.5%

XCel Brands, Inc.

Reduced ownership in IM Topco from 30% to 17.5% via membership interest transfer on April 15, 2025.
Entered Second Amendment to Loan Agreement on April 21, 2025, adding $5.12M Term Loan B (total $9.12M) and repaying $1.5M of Term Loan A, leaving $2.45M outstanding.
Issued warrants to UTG for 1,107,455 shares at exercise prices $6.60-$17.50; issued 30,000 warrants to Restore at $6.67.
Term Loan B interest: SOFR + 6.5% (2.0% floor), paid in-kind through March 2027; maturity December 12, 2028.
UTG granted right to nominate one board member while holding at least $1M participation or 300,000 shares.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XCel Brands, Inc. amended credit facility with FEAC Agent, LLC at SOFR subject to a 2.0% floor plus 8.5% maturing December 12, 2028.

Instrument: credit facility
Counterparty: FEAC Agent, LLC
Rate: SOFR subject to a 2.0% floor plus 8.5%
Maturity: December 12, 2028
Event: amendment

Exact text from the filing

was amended to provide, among other things, for $1.5 million repayment of the $3.95 million Term Loan A

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

XCel Brands, Inc. incurred term loan of $5.12 million with FEAC Agent, LLC at SOFR subject to a 2.0% floor plus 6.5% maturing December 12, 2028.

Instrument: term loan
Principal: $5.12 million
Counterparty: FEAC Agent, LLC
Rate: SOFR subject to a 2.0% floor plus 6.5%
Maturity: December 12, 2028
Event: incurrence

Exact text from the filing

an additional Term Loan B in the amount of 5.12 million on the Second Amendment Effective Date. The loans outstanding after giving effect to the Second Amendment and the application of the proceeds of the additional Term Loan B are as follows: (1) Term Loan A in the amount of $2.45 million, (2) Term Loan B in the amount of $ 9.12 million

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XCel Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-25-005407

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