{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-25-005407","form_type":"8-K","ticker":"XELB","cik":"0001083220","company_name":"XCel Brands, Inc.","filed_at":"2025-04-24T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.449770+00:00","generated_at":"2026-05-23T06:39:37.182613+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Xcel Brands enters loan amendment, adds $5.12M debt, cuts IM Topco ownership to 17.5%","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-25-005407","json":"https://secwatch.observer/filing/0001558370-25-005407.json","markdown":"https://secwatch.observer/filing/0001558370-25-005407.md","text":"https://secwatch.observer/filing/0001558370-25-005407.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1083220/000155837025005407/0001558370-25-005407-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1083220/000155837025005407/xelb-20250415x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T06:39:37.182613+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}