AKA

Business Context and Reporting Period

Company: A.K.A. Brands Holding Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: October 14, 2025
Event: Entry into a Material Definitive Agreement (Amended and Restated Syndicated Facility Agreement).

Key Financial Metrics and Debt Structure

This filing details a refinancing of the company's credit facilities. The Amended and Restated Credit Agreement establishes the following capital structure:

• Revolving Credit Commitments: $35,264,284.60
• Term Loans: $85,000,000
• Total Facility Size: Approximately $120.26 million
• Maturity Date: October 14, 2028 (extended for both Revolving and Term facilities)
• Collateral: First priority lien on substantially all assets of the Lead Borrower and Guarantors.

Note: This filing does not provide current revenue, profit, cash flow, or liquidity metrics. It references a Consolidated EBITDA of $35,200,000 solely for the purpose of resizing negative covenant baskets.

Material Changes Versus Prior Period

The agreement amends and restates the Existing Credit Agreement dated September 21, 2021. Key changes include:

• Extension of Maturity: Both Revolving and Term loan maturities extended to October 14, 2028.
• Facility Resizing: Establishment of specific principal amounts for Revolving ($35.26M) and Term ($85M) loans.
• Pricing Adjustments: Adjusted pricing stepdowns for Term SOFR, Base Rate, and BBSY Loans contingent on delivering a compliance certificate for the fiscal year ending December 31, 2025.
• Covenant Baskets: Resized based on a Consolidated EBITDA of $35,200,000.

Guidance, Outlook, and Covenants

Amortization Schedule:

• Q4 2025 through Q4 2027: Mandatory quarterly payments equal to 1.875% of the aggregate outstanding principal amount of Term Loans.
• Q1 2028 onwards: Mandatory quarterly payments increase to 2.50% of the aggregate outstanding principal amount.

Covenants and Restrictions: The agreement includes customary non-financial covenants limiting mergers and acquisitions, investments, affiliate transactions, changes to capital structure, additional indebtedness, additional liens, dividend payments, and asset sales. Events of Default: Includes payment defaults, breaches of representations, covenant defaults, bankruptcy, insolvency, and change of control.

Investor Verification Checklist

• Verify the full text of the Amended and Restated Credit Agreement (Exhibit 10.1) for specific interest rate spreads and fees not detailed in the summary.
• Confirm the company's ability to meet the Consolidated EBITDA threshold of $35,200,000 to trigger pricing stepdowns.
• Review the Press Release (Exhibit 99.1) for management commentary on the strategic rationale for the refinancing.
• Assess the impact of the mandatory amortization on future quarterly cash flow requirements.
• Check for any existing indebtedness that was not refinanced under this new agreement.