Lulus Announces New Credit Agreement with White Oak Commercial Finance, LLC
Lulus (NASDAQ:LVLU) has entered into a new Loan and Security Agreement with White Oak Commercial Finance, effective August 14, 2025. The 2025 Credit Agreement includes a $20 million asset-based revolving credit facility, a $5 million uncommitted accordion, and a $1 million sublimit for letters of credit, maturing on August 14, 2028.
The initial funding will be partially used to repay approximately $6 million outstanding under the Company's previous credit agreement with Bank of America. Following the transaction, Lulus will have $10 million of outstanding borrowings under the new agreement.
Lulus (NASDAQ:LVLU) ha stipulato un nuovo Loan and Security Agreement con White Oak Commercial Finance, con efficacia dal 14 agosto 2025. Il Credit Agreement 2025 prevede una linea di credito rinnovabile asset-based da 20 milioni di dollari, un accordion non impegnativo da 5 milioni di dollari e un sublimite di 1 milione di dollari per le lettere di credito, con scadenza il 14 agosto 2028.
I fondi iniziali saranno utilizzati in parte per rimborsare circa 6 milioni di dollari ancora dovuti ai sensi del precedente contratto di credito con Bank of America. Dopo l'operazione, Lulus avrà 10 milioni di dollari di indebitamento in essere ai sensi del nuovo accordo.
Lulus (NASDAQ:LVLU) ha firmado un nuevo Loan and Security Agreement con White Oak Commercial Finance, con vigencia desde el 14 de agosto de 2025. El Credit Agreement 2025 incluye una línea de crédito revolvente basada en activos de 20 millones de dólares, un accordion no comprometido de 5 millones de dólares y un sublímite de 1 millón de dólares para cartas de crédito, con vencimiento el 14 de agosto de 2028.
La financiación inicial se utilizará en parte para pagar aproximadamente 6 millones de dólares pendientes bajo el anterior contrato de crédito con Bank of America. Tras la operación, Lulus tendrá 10 millones de dólares en préstamos pendientes bajo el nuevo acuerdo.
Lulus (NASDAQ:LVLU)는 White Oak Commercial Finance와 2025년 8월 14일부로 새로운 Loan and Security Agreement를 체결했습니다. 2025년 신용계약에는 2,000만 달러 규모의 자산담보 회전 신용 한도, 500만 달러 비확약형(accordion), 그리고 신용장용 100만 달러 서브리밋이 포함되며 만기는 2028년 8월 14일입니다.
초기 자금은 이전 Bank of America와의 신용계약상 미지급된 약 600만 달러를 부분 상환하는 데 일부 사용됩니다. 거래 이후 Lulus는 새 계약에서 1,000만 달러의 미상환 차입금을 보유하게 됩니다.
Lulus (NASDAQ:LVLU) a conclu un nouveau Loan and Security Agreement avec White Oak Commercial Finance, prenant effet le 14 août 2025. Le Credit Agreement 2025 comprend une ligne de crédit renouvelable adossée à des actifs de 20 millions de dollars, un « accordion » non engagé de 5 millions de dollars et un sous‑plafond de 1 million de dollars pour les lettres de crédit, arrivant à échéance le 14 août 2028.
Les fonds initiaux serviront en partie à rembourser environ 6 millions de dollars restant dus au titre du précédent contrat de crédit avec Bank of America. Après l'opération, Lulus disposera de 10 millions de dollars d'emprunts en cours au titre du nouvel accord.
Lulus (NASDAQ:LVLU) hat einen neuen Loan and Security Agreement mit White Oak Commercial Finance abgeschlossen, gültig ab dem 14. August 2025. Der Credit Agreement 2025 umfasst eine 20-Millionen-Dollar-asset-basierte revolvierende Kreditfazilität, ein nicht verpflichtendes 5-Millionen-Dollar-Accordion sowie ein 1-Millionen-Dollar-Sublimit für Akkreditiva; Fälligkeit ist der 14. August 2028.
Die anfängliche Finanzierung wird teilweise zur Rückzahlung von rund 6 Millionen Dollar verwendet, die aus dem vorherigen Kreditvertrag mit der Bank of America ausstehen. Nach der Transaktion wird Lulus 10 Millionen Dollar an ausstehenden Kreditaufnahmen unter dem neuen Vertrag haben.
- New credit facility provides $20 million commitment with additional $5 million accordion potential
- Extended maturity to August 14, 2028 provides longer-term financial stability
- Strengthened liquidity position and increased financial flexibility
- Company maintains $10 million in outstanding borrowings under new agreement
- Indicates continued reliance on debt financing for operations
Proceeds to be Used In Part to Repay Bank of America and Terminate Existing Credit Agreement
CHICO, Calif., Aug. 14, 2025 (GLOBE NEWSWIRE) -- Lulu’s Fashion Lounge Holdings, Inc. (“Lulus” or the “Company”) (Nasdaq: LVLU) announced that, effective today, it entered into a Loan and Security Agreement with White Oak Commercial Finance, LLC, as Administrative Agent, and the lenders party thereto (the “2025 Credit Agreement”). The 2025 Credit Agreement is comprised of an asset-based revolving credit facility with a
“We’re pleased to partner with White Oak on this financing agreement, which strengthens our liquidity position and provides Lulus with the financial flexibility to continue executing against our strategic priorities,” said Crystal Landsem, CEO and Interim CFO of Lulus. “We remain focused on achieving our sustainable growth objectives, delivering attainable luxury for our customers, and driving value for our shareholders.”
The initial funding of the 2025 Credit Agreement will occur today, and the proceeds will be used in part to repay approximately
In connection with entering into the 2025 Credit Agreement, the Company will repay and fulfill all outstanding obligations to Bank of America under the 2021 Credit Agreement.
About Lulus
Headquartered in California and serving millions of customers worldwide, Lulus is an attainable luxury fashion brand for women, offering modern, unapologetically feminine designs at accessible prices for every occasion. Our aim is to make every woman feel confident and celebrated, supporting her for all of life’s occasions, big or small – from work desk to dream date, cozying up on the couch to the spotlight of her wedding day. Founded in 1996, Lulus delivers fresh styles to consumers daily, using direct consumer feedback and insights to refine product offerings and elevate the customer experience. Lulus’ world class personal stylists, bridal concierge, and customer care team share an unwavering commitment to elevating style and quality and bring exceptional customer service and personalized shopping to customers around the world. Follow @lulus on Instagram and @lulus on TikTok. Lulus is a registered trademark of Lulu’s Fashion Lounge, LLC. All rights reserved.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the intended impact of the 2025 Credit Agreement and anticipated payoff and termination of the 2021 Credit Agreement. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Lulus’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the risk factors discussed in Part I, Item 1A, “Risk Factors” in Lulus’ Annual Report on Form 10-K for the fiscal year ended December 29, 2024, Part II, Item IA, “Risk Factors” in Lulus’ Quarterly Reports on Form 10-Q for the fiscal quarters ended March 30, 2025 and June 29, 2025, and our other filings with the Securities and Exchange Commission which could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While Lulus may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, except as required by law, even if subsequent events cause its views to change.
Contact
investors@lulus.com
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