---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-005003"
form_type: "8-K"
ticker: "TDUP"
cik: "0001484778"
company_name: "ThredUp Inc."
filed_at: "2026-02-03T23:59:59+00:00"
generated_at: "2026-05-16T05:18:31.819698+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# ThredUp amends credit facility; reduces Term B loan to $10M, extends maturity to 2030, adds new covenants

## Summary
- Term B loan commitment cut from $22.5M to $10M; no amounts drawn under that facility.
- Loan maturity extended to July 10, 2030; interest rate changed to Term SOFR + 3.25% (floor 2.50%).
- Term A loan interest-only until Jan 2028; fixed charge coverage ratio eliminated.
- New covenant: cash/(trailing 3-month EBITDA less principal payments) >= 12.0x; unrestricted cash >= total term loans.

## SEC filing metadata
- accession: 0001628280-26-005003
- form_type: 8-K
- ticker: TDUP
- cik: 0001484778
- company_name: ThredUp Inc.
- filed_at: 2026-02-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1484778/000162828026005003/0001628280-26-005003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1484778/000162828026005003/tdup-20260203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-005003
- JSON: https://secwatch.observer/filing/0001628280-26-005003.json
- Plain text: https://secwatch.observer/filing/0001628280-26-005003.txt

## Key facts
- Debt Financings
  ThredUp Inc. amended credit facility of reduce the aggregate commitment under "Term B Loan" facility from $22,500,000 to $10,000,000 with Western Alliance Bank (as agent) at Term SOFR plus an applicable margin of 3.25% per annum maturing July 10, 2030.
  - Instrument: credit facility
  - Principal: reduce the aggregate commitment under "Term B Loan" facility from $22,500,000 to $10,000,000
  - Counterparty: Western Alliance Bank (as agent)
  - Rate: Term SOFR plus an applicable margin of 3.25% per annum
  - Maturity: July 10, 2030
  - Event: amendment
  source text: On January 30, 2026, ThredUp Inc. (the “Company”) together with certain of its subsidiaries as co-borrowers (collectively with the Company, the “Borrowers”) entered into that certain Amendment No. 2 to 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”). The Amendment amends that certain Second Amended and Restated Loan and Security Agreement, dated July 14, 2022, between the Borrowers, the Lenders and the Agent (as amended, the “Loan Agreement”), to, among other things, reduce the aggregate commitment under “Term B Loan” facility provided by the Loan Agreement from $22,500,000 to $10,000,000. No amounts have been borrowed under the Term B Loan facility. The Amendment also extends the Loan Agreement maturity from July 14, 2027 to July 10, 2030, and the Amendment also changes the reference interest rate on any outstanding principal amount from the Wall Street Journal Pr
  evidence_url: https://www.sec.gov/Archives/edgar/data/1484778/000162828026005003/0001628280-26-005003-index.htm
- Material Agreements
  ThredUp Inc. amended Amendment No. 2 to Second Amended and Restated Loan and Security Agreement with the lenders party thereto and Western Alliance Bank, as agent valued at from $22,500,000 to $10,000,000 (effective 2026-01-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: the lenders party thereto and Western Alliance Bank, as agent
  - Value: from $22,500,000 to $10,000,000
  - Effective: 2026-01-30
  source text: On January 30, 2026, ThredUp Inc. (the “Company”) together with certain of its subsidiaries as co-borrowers (collectively with the Company, the “Borrowers”) entered into that certain Amendment No. 2 to 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/1484778/000162828026005003/0001628280-26-005003-index.htm

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