ThredUp Amends Loan Agreement, Cuts Term B Facility to $10 Million and Extends Maturity to 2030

Reuters02-04 05:11

ThredUp Amends Loan Agreement, Cuts Term B Facility to $10 Million and Extends Maturity to 2030

ThredUp Inc. has amended its existing loan agreement with Western Alliance Bank and other lenders, reducing the aggregate commitment under its "Term B Loan" facility from $22.5 million to $10 million. No amounts have been borrowed under this facility to date. The amendment also extends the maturity date of the agreement from July 2027 to July 2030 and shifts the reference interest rate from the Wall Street Journal Prime Rate to the secured overnight financing rate (Term SOFR) plus a 3.25% margin, with a 2.50% floor. Additionally, only interest payments, and not principal, will be due on the "Term A Loan Facility" until January 2028. The amendment further modifies certain financial covenants, including eliminating the minimum fixed charge coverage ratio and introducing new requirements for liquidity and cash maintenance.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ThredUp Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-005003), on February 03, 2026, and is solely responsible for the information contained therein.

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The amendment further modifies certain financial covenants, including eliminating the minimum fixed charge coverage ratio and introducing new requirements for liquidity and cash maintenance.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4589":"SVB概念","BK4539":"次新股","BK4588":"碎股","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4585":"ETF&股票定投概念","TDUP":"ThredUp Inc.","WAL":"阿莱恩斯西部银行","BK4122":"互联网与直销零售","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","BK4211":"区域性银行","BK4094":"服装零售","LU0106831901.USD":"贝莱德世界金融基金A2"},"translate_title":"ThredUp修改贷款协议，将B期贷款削减至1000万美元，并将到期日延长至2030年","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TDUP":0.9,"WAL":0.9},"content_text":"ThredUp Amends Loan Agreement, Cuts Term B Facility to $10 Million and Extends Maturity to 2030\n    \n\nThredUp Inc. has amended its existing loan agreement with Western Alliance Bank and other lenders, reducing the aggregate commitment under its \"Term B Loan\" facility from $22.5 million to $10 million. 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