The Childrens Place, Inc. announced that it has received from its majority shareholder, Mithaq Capital SPC (Mithaq), the second tranche of interest-free, unsecured and subordinated term loan funding contemplated by the previously announced Unsecured Promissory Note, dated February 29, 2024, entered into between Mithaq and the Company, in the amount of $48.6 million (the Second Mithaq Term Loan). As previously announced, Mithaq provided the initial tranche of $30 million to the Company pursuant to such Unsecured Promissory Note on February 29, 2024, also in the form of an interest-free, unsecured and subordinated term loan (the Initial Mithaq Term Loan and together with the Second Mithaq Term Loan, the Mithaq Term Loans). The Company continues to expect to be in a position to close the previously announced $130 million term loan (the Gordon Brothers Term Loan) in March 2024, as contemplated by the non-binding term sheet that the Company entered into with 1903P Loan Agent, LLC.

The Company is also pursuing improved terms with Gordon Brothers as well as alternative financing on terms no less favorable in the aggregate to the Company.