IPO - Childrens Place, Inc.

Form Type: CORRESP

Filing Date: 2024-12-30

Corporate Action: Ipo

Type: New

Accession Number: 000110465924132408

Filing Summary: The Children’s Place, Inc. filed a request for the acceleration of effectiveness for its Registration Statement on Form S-1 (File No. 333-282664). The request aims for the effectiveness to be set at 9:00 A.M. Eastern Time on December 31, 2024, or as soon thereafter as practicable. The correspondence is addressed to Alyssa Wall at the SEC and was submitted via the EDGAR system. The letter also provides contact details for any questions and requests notification once the acceleration has been granted.

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Form Type: S-1/A

Filing Date: 2024-12-30

Corporate Action: Ipo

Type: Update

Accession Number: 000110465924132390

Filing Summary: The Children's Place, Inc. is conducting a Rights Offering to distribute non-transferable subscription rights to holders of its common stock, on a pro rata basis, allowing them to purchase up to 9,230,769 shares of common stock at a price of $9.75 per share. The offering aims to raise up to $90 million and is in compliance with a Letter Agreement with its largest stockholder, Mithaq Capital SPC. The subscription rights will begin on December 31, 2024, and expire on January 31, 2025. The offering does not require a minimum subscription to proceed. Rights holders can exercise their rights and additionally subscribe for any shares that remain unsubscribed through an over-subscription privilege. The rights are non-transferable, subject to law, and will not be traded on any exchange. This follows the company's strategic decision to raise capital and strengthen its balance sheet as part of ongoing efforts to improve financial stability. The company plans to utilize any funds raised under the offering to address its outstanding indebtedness and enhance its financial position.

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