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The latest announcement is out from Children’s Place (PLCE).
The Children’s Place, Inc. secured a significant financial boost on February 29, 2024, with Mithaq Capital SPC providing a $78.6 million interest-free, unsecured term loan package. This package includes an immediate $30 million loan and an additional $48.6 million available for future draw. The loans, backed by The Children’s Place’s subsidiaries and maturing in 2027, aim to enhance the company’s liquidity and enable payment to vendors for overdue accounts. Concurrently, governance changes were enacted, with four Mithaq-nominated individuals joining the board, and an amendment to the bylaws was made to include a Chairman-Elect position, reflecting Mithaq’s growing influence in the company.
For a thorough assessment of PLCE stock, go to TipRanks’ Stock Analysis page.