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.