Lulu's Fashion Lounge Enters Material Definitive Agreement

TL;DR

LULU just signed a big deal, creating a new financial obligation. Keep an eye on this.

AI Summary

Lulu's Fashion Lounge Holdings, Inc. entered into a material definitive agreement on December 13, 2024. This agreement creates a direct financial obligation for the registrant. The filing is a Current Report on Form 8-K.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Lulu's Fashion Lounge, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.

Key Players & Entities

• Lulu's Fashion Lounge Holdings, Inc. (company) — Registrant
• December 13, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share LVLU The Nasdaq Stock Mar

Filing Documents

• tmb-20241213x8k.htm (8-K) — 50KB
• tmb-20241213xex10d1.htm (EX-10.1) — 39KB
• tmb-20241213x8k001.jpg (GRAPHIC) — 2KB
• 0001558370-24-016264.txt ( ) — 224KB
• tmb-20241213.xsd (EX-101.SCH) — 3KB
• tmb-20241213_lab.xml (EX-101.LAB) — 16KB
• tmb-20241213_pre.xml (EX-101.PRE) — 10KB
• tmb-20241213x8k_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On December 13, 2024, the wholly-owned subsidiaries of Lulu's Fashion Lounge Holdings, Inc. ("Lulus" or the "Company") entered into a Third Amendment (the "Amendment") to that certain Credit Agreement dated as of November 15, 2021 (as amended, modified, supplemented, increased, extended, restated, renewed, refinanced and replaced from time to time, the "Credit Agreement") with Bank of America, N.A. ("BoA"), as administrative agent and the lenders party thereto. The Amendment provides a limited waiver to the provision under the Credit Agreement that requires the Company to comply with the financial covenants for the period of four fiscal quarters ended on or about September 30, 2024. Pursuant to the Amendment, the Company will be required to, among other things, not permit unrestricted cash and cash equivalents as determined on a consolidated basis and tested weekly to be less than certain specified minimum amounts. The Amendment also requires the payment of certain consent fees and increases the interest rates payable under the Credit Agreement for periods commencing on or after December 13, 2024 and February 1, 2025, respectively, as follows: (a) in the case of Base Rate Loans, the Base Rate plus (i) 3.25% commencing on December 13, 2024 and (ii) 4.00% commencing on February 1, 2025 (increased from a margin of 2.75%), (b) in the case of Term SOFR Loans, Term SOFR (subject to a credit spread adjustment of 10 basis points) plus (i) 4.25% commencing on December 13, 2024 and (ii) 5.00% commencing on February 1, 2025 (increased from a margin of 3.75%), and (c) the Letter of Credit Fee of (i) 4.25% commencing on December 13, 2024 and (ii) 5.00% commencing on February 1, 2025 (increased from 3.75%) (all capitalized terms used herein are defined in the Credit Agreement). The foregoing description of the Amendment is a summary only and is qualified in its entirety by reference to the Amendment, which is attached her

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits . (d) Exhibits The following exhibits are furnished herewith: Exhibit Number Description 10.1 Third Amendment to Credit Agreement, dated as of December 13, 2024, among Lulu's Fashion Lounge, LLC, Lulu's Fashion Lounge Parent, LLC, Bank of America, N.A and the lenders party thereto. 104 Cover Page Interactive Data File (formatted as inline XBRL) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 16, 2024 Lulu's Fashion Lounge Holdings, Inc. By: /s/ Crystal Landsem Crystal Landsem Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR