Mithaq Capital Amends Stake in Children's Place

TL;DR

Mithaq Capital updated their 13D filing for Children's Place. Keep an eye on this one.

AI Summary

Mithaq Capital SPC, along with its group members Turki Saleh A. AlRajhi and Muhammad Asif Seemab, has amended its Schedule 13D filing concerning The Children's Place, Inc. The filing, dated March 11, 2024, indicates a change in their beneficial ownership of the company's common shares. The specific percentage or number of shares held after the amendment is not detailed in this excerpt.

Why It Matters

This amendment signals a potential shift in the shareholder landscape of The Children's Place, Inc., which could influence future strategic decisions or market perception of the company.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or activist investor involvement, introducing uncertainty.

Key Players & Entities

• Mithaq Capital SPC (company) — Filing entity
• Turki Saleh A. AlRajhi (person) — Group member and beneficial owner
• Muhammad Asif Seemab (person) — Group member and beneficial owner
• The Children's Place, Inc. (company) — Subject company
• 20240311 (date) — Filing date

FAQ

Key Financial Figures

• $0.10 — e of Issuer) Common Shares, par value $0.10 per share (Title of Class of Securiti

Filing Documents

• tm248490d1_sc13da.htm (SC 13D/A) — 88KB
• tm248490d1_ex99-6.htm (EX-99.6) — 131KB
• 0001104659-24-033148.txt ( ) — 221KB

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: On March 7, 2024, Mithaq SPC, the Issuer and Wells Fargo Bank, National Association entered into the subordination agreement (the “ Subordination Agreement ”) referred to in the Initial 13D in respect of the Unsecured Promissory Note entered into by Mithaq SPC and the Issuer on February 29, 2024. The Subordination Agreement is on customary terms and conditions and among other things subordinates the Mithaq Term Loans in payment priority to the obligations of the Issuer (and its subsidiaries that guaranteed such obligations) under the Credit Agreement. The foregoing description of the Subordination Agreement is qualified in its entirety by reference to the full text thereof, a copy of which is filed as Exhibit 99.6 to this Amendment No. 2 and is incorporated herein by reference. Also on March 7, 2024, Mithaq SPC notified the Issuer of its intention to fund the Delayed Draw Term Loan on March 8, 2024, and on March 8, 2024, Mithaq SPC provided the Delayed Draw Term Loan to the Issuer. With the funding of the Delayed Draw Term Loan on March 8, 2024, the previously announced resignations from the Board of Norman Matthews, John E. Bachman, Debby Reiner and Michael Shaffer became effective and the size of the Board was reduced to six, in accordance with the Letter Agreement. In addition, Mr. John A. Frascotti separately elected to resign from the Board on March 8, 2024 simultaneously with the resignations of the aforementioned resigning directors. As a result of the Board composition changes described above, Norman Matthews ceased to be the Chairman of the Board, and on March 11, 2024, Turki Saleh A. AlRajhi, one of the Reporting Persons, was appointed as the new Chairman of the Board. Also on March 11, 2024, Muhammad Asif Seemab, one of the Reporting Persons, was appointed to the newly-created position of Vice Chairman of the Board. Also on M

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 March 7, 2024, Mithaq SPC and the Credit Agreement Lenders entered into the Subordination Agreement, which is described in Item 4 above and filed as Exhibit 99.6 to this Amendment No. 2. Item 4 to this Amendment No. 2 is incorporated herein by reference. Item 7. Material to be Filed as Exhibits. Exhibit 99.6 Subordination Agreement, dated March 7, 2024, among the Issuer, Wells Fargo Bank, National Association (in its capacity as administrative agent and collateral agent) and Mithaq SPC (solely in its capacity as the holder of the Subordinated Debt (as defined in the Subordination Agreement)).

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 11, 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 11, 2024 MITHAQ CAPITAL SPC By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 11, 2024 MITHAQ CAPITAL By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 11, 2024 MITHAQ GLOBAL By: /s/ Turki Saleh A. AlRajhi Name: Turki Saleh A. AlRajhi Title: Director Date: March 11, 2024 TURKI SALEH A. ALRAJHI By: /s/ Turki Saleh A. AlRajhi Turki Saleh A. AlRajhi Date: March 11, 2024 MUHAMMAD ASIF SEEMAB By: /s/ Muhammad Asif Seemab Muhammad Asif Seemab

View Full Filing

View this SC 13D/A filing on SEC EDGAR