In an announcement made yesterday, The Children's Place, Inc., a leading omni-channel children's specialty portfolio of brands, revealed that it has received correspondence from Snowball Compounding Ltd. and parties related to Mithaq Capital. These entities have disclosed their ownership of approximately 54% of the company's outstanding shares of common stock. Moreover, they have expressed their intention to nominate 11 individuals for election to The Children's Place's Board of Directors at the upcoming 2024 Annual Meeting of Shareholders.

The Children's Place is known for its digital-first approach, with four digital storefronts and over 500 North American stores in its retail and wholesale network. Additionally, it operates in 16 countries through six international franchise partners. As a women-led company, The Children's Place prides itself on its gender diversity in senior management and throughout all levels of its workforce. It also emphasizes sustainable business practices that benefit its customers, associates, investors, suppliers, and communities.

Following the receipt of this correspondence, The Children's Place has chosen to accept Mithaq's request to engage in discussions regarding financing. This potential funding would assist the company in addressing its liquidity needs. However, any agreement would be subject to lender approval and compliance with applicable laws.

The company's Board of Directors and senior leadership team have reaffirmed their commitment to acting in the best interests of all shareholders. Therefore, The Children's Place shareholders are not currently required to take any specific action.

The Children's Place designs, contracts with manufacturers, and sells fashionable, high-quality apparel, accessories, and footwear at value prices. The company's proprietary brands include "The Children's Place," "Gymboree," "Sugar & Jade," and "PJ Place."

For additional information about The Children's Place and its brands, interested individuals can visit the company's official websites and social media channels.

It remains to be seen how these new developments will shape the future of The Children's Place, as shareholders eagerly await further updates and decisions from the company's leadership team.