The Children's Place, Inc. has announced that it has entered into non-binding agreement and will raise 90 million on April 17, 2024. The transaction included participation from returning lender Mithaq Capital SPC. The company will issue unsecured promissory note in the transaction.

The note will mature on April 16, 2027. The note will accrue interest at the Secured Overnight Financing Rate (?SOFR?) plus 4.00% per annum, with accruing interest payments to be deferred until April 30, 2025. The notes are unsecured and subordinated.

The transaction is expected to close on April 19, 2024. Upon funding, a waiver of the event of default triggered by the change in control will be granted.