Mithaq Capital Amends Children's Place Stake Filing

TL;DR

Mithaq Capital updated its 13D filing for Children's Place (PLCE) - ownership details changed.

AI Summary

Mithaq Capital SPC, through its group members including Turki Saleh A. AlRajhi and Muhammad Asif Seemab, has filed an amendment (Amendment No. 1) to its Schedule 13D on March 4, 2024, regarding its holdings in The Children's Place, Inc. The filing indicates a change in the group's beneficial ownership of the company's common shares.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of The Children's Place, Inc., which could influence its stock performance and corporate decisions.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to increased stock volatility.

Key Numbers

• Amendment No. 1 — Filing Amendment (Indicates a change to a previous filing)
• 20240304 — Filing Date (Date the amendment was filed with the SEC)

Key Players & Entities

• Mithaq Capital SPC (company) — Filing entity
• Turki Saleh A. AlRajhi (person) — Group member
• Muhammad Asif Seemab (person) — Group member
• The Children's Place, Inc. (company) — Subject company
• 0001104659-24-030241 (filing_id) — Accession number for this filing

FAQ

Key Financial Figures

• $0.10 — e of Issuer) Common Shares, par value $0.10 per share (Title of Class of Securiti
• $90.0 million — rights offering of up to approximately $90.0 million by distributing transferrable subscript
• $78.6 million — sory Note ”), providing for up to $78.6 million in term loans to the Issuer, consisting
• $30.0 million — original aggregate principal amount of $30.0 million (the “ Initial Term Loan ”)
• $48.6 million — yed draw term loan commitment amount of $48.6 million (the “ Delayed Draw Term Loan &rd
• $121.0 million — (net of fees and expenses) of at least $121.0 million from either the term loan contemplated

Filing Documents

• tm247841d1_sc13da.htm (SC 13D/A) — 99KB
• 0001104659-24-030241.txt ( ) — 101KB

of the Initial 13D is

Item 4 of the Initial 13D is hereby amended and supplemented by adding the following paragraphs to the end thereof: Letter Agreement On February 29, 2024, Mithaq SPC and the Issuer entered into a letter agreement (the “ Letter Agreement ”) for purposes of, among other things, ensuring an orderly transition of the governance of the Issuer following Mithaq SPC’s acquisition of over 50% of the outstanding shares of common stock of the Issuer. Pursuant to the Letter Agreement: · Turki Saleh A. AlRajhi (one of the Reporting Persons), Muhammad Asif Seemab (one of the Reporting Persons), Muhammad Umair and Hussan Arshad (collectively, the “ Mithaq Appointees ”) have been appointed to the board of directors of the Issuer (the “ Board ”), effective as of February 29, 2024. Mr. AlRajhi has also been appointed as the Chairman-Elect of the Board and is sharing Chairman duties with the current Chairman, Norman Matthews, during a transitional period, and the Bylaws of the Company were amended on February 29, 2024 to reflect the foregoing. · Elizabeth Boland, Alicia Enciso, Katherine Kountze and Wesley S. McDonald have resigned from the Board, effective February 29, 2024, and Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer have each delivered letters of resignation to the Issuer resigning from the Board, effective upon the funding of the Delayed Draw Term Loan (as defined below). The size of the Board is currently fixed at ten (10) pursuant to the Letter Agreement and is required by the Letter Agreement to be reduced to six (6) following the effectiveness of the resignations of Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer. · Mithaq SPC and the Issuer will identify two individuals (who may be remaining Board members from the Company’s prior ten person Board) who are independent of Mithaq SPC and reasonably acceptable to both Mithaq SPC and the remaining non-Mithaq S

of the Initial 13D is

Item 6 of the Initial 13D is hereby amended and supplemented by the addition of the following to the end thereof: On February 29, 2024, Mithaq SPC and the Issuer entered into the Letter Agreement and the Promissory Note, each of which are described in Item 4 above and filed as Exhibit 99.4 and Exhibit 99.5 , respectively, to this Amendment No. 1. Item 4 to this Amendment No. 1 is incorporated herein by reference. Item 7. Material to be Filed as Exhibits. Exhibit 99.4 Letter Agreement, dated February 29, 2024, between the Issuer and Mithaq Capital SPC (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed by the Issuer with the SEC on March 4, 2024). Exhibit 99.5 Unsecured Promissory Note, dated February 29, 2024, among the Issuer, certain subsidiaries of the Issuer, and Mithaq Capital SPC (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed by the Issuer with the SEC on March 4, 2024).

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: March 4, 2024 SNOWBALL COMPOUNDING LTD. By: Mithaq Capital SPC, its sole stockholder By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 4, 2024 MITHAQ CAPITAL SPC By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 4, 2024 MITHAQ CAPITAL By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 4, 2024 MITHAQ GLOBAL By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 4, 2024 TURKI SALEH A. ALRAJHI By: /s/ Turki Saleh A. AlRajhi Turki Saleh A. AlRajhi Date: March 4, 2024 MUHAMMAD ASIF SEEMAB By: /s/ Muhammad Asif Seemab Muhammad Asif Seemab

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View this SC 13D/A filing on SEC EDGAR