STOCK TITAN

Children’s Place (PLCE) holder Mithaq at 61% stake, Seemab named interim CEO

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Mithaq-affiliated investors report controlling ownership of The Children's Place, Inc. and new leadership and financing arrangements. Mithaq Capital SPC and related reporting persons beneficially own 13,593,236 common shares, representing 61.1% of the company’s 22,237,067 shares outstanding as of June 8, 2026. Including 103,583 shares held directly, reporting person Muhammad Asif Seemab is deemed to beneficially own 13,696,819 shares, or 61.6% of the company.

Effective July 7, 2026, the board appointed Mr. Seemab as President and interim Chief Executive Officer, with an annual base salary of $497,500. Mithaq granted him 500,000 restricted shares it owns, vesting in one-third increments if the company’s market capitalization reaches $265 million, $400 million, and $600 million, with unvested awards expiring on July 7, 2031 absent an extension.

Under a previously disclosed $40.0 million senior unsecured credit facility from Mithaq, the company received a $15.0 million advance on July 1, 2026, reducing remaining availability to $25.0 million. The company has indicated it intends to use the net proceeds to prepay amounts under its revolving credit facility, reduce accounts payable to vendors, and for other general corporate purposes.

Positive

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Insights

Mithaq’s majority stake is paired with deeper operational involvement and new financing.

Mithaq-linked entities report beneficial ownership of over 61% of The Children's Place, confirming a controlling position. This Amendment also details that reporting person Muhammad Asif Seemab becomes President and interim CEO, tightening the link between the controlling shareholder group and day-to-day management.

The 500,000-share Restricted Stock award from Mithaq’s own holdings ties Mr. Seemab’s incentives to market capitalization milestones at $265M, $400M, and $600M, expiring on July 7, 2031 unless extended. Because the shares come from Mithaq’s stake, they do not add new share issuance but do further align his interests with equity performance.

The $40.0M senior unsecured Mithaq Credit Facility, with a $15.0M draw on July 1, 2026, supports liquidity while leaving $25.0M available. The company’s indicated use of proceeds—debt prepayment, vendor payables reduction, and general corporate purposes—suggests balance-sheet and working-capital management, with the full impact depending on subsequent operating performance and future borrowings under this facility.

Beneficial ownership 13,593,236 shares (61.1%) Mithaq-affiliated reporting persons’ stake based on 22,237,067 shares outstanding
Seemab beneficial stake 13,696,819 shares (61.6%) Includes 103,583 shares held directly by Muhammad Asif Seemab
Shares outstanding 22,237,067 shares Issuer’s common shares outstanding as of June 8, 2026
Interim CEO base salary $497,500 per year Annual base salary for President and interim CEO Muhammad Asif Seemab
Restricted Stock grant 500,000 shares Mithaq grant to Seemab, vesting at $265M, $400M, $600M market cap
Credit facility size $40.0 million Senior unsecured Mithaq Credit Facility commitment
Advance drawn $15.0 million Amount advanced to the issuer on July 1, 2026
Remaining availability $25.0 million Mithaq Credit Facility capacity after the July 1, 2026 advance
beneficial ownership financial
"Aggregate amount beneficially owned by each reporting person 13,593,236.00"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Restricted Stock financial
"Mithaq has granted stock awards to Mr. Seemab in the form of Restricted Stock"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
market capitalization financial
"vesting in one-third increments when the Issuer's market capitalization reaches $265 million, $400 million, and $600 million"
Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.
senior unsecured credit facility financial
"a senior unsecured $40.0 million credit facility (the "Mithaq Credit Facility")"
A senior unsecured credit facility is a bank loan or line of credit that a company can draw on for cash needs but that is not backed by specific assets; ‘senior’ means it gets paid before junior or subordinated debts if the company defaults. Think of it as a prioritized IOU from banks without a pledged asset as collateral. Investors watch this because it affects a company’s short‑term liquidity, borrowing cost and the order in which creditors are repaid in distress, all of which influence credit risk and equity value.
Unsecured Promissory Note financial
"Unsecured Promissory Note, dated July 1, 2026, among the Issuer, certain subsidiaries of the Issuer, and Mithaq"
An unsecured promissory note is a written IOU in which a borrower promises to repay a loan plus any interest but does not pledge any asset as collateral. Investors care because it relies solely on the borrower’s ability to pay—like lending money to someone without holding their watch as security—so it usually carries higher interest and higher risk and ranks below secured debt if the borrower defaults, affecting expected recovery and company credit profile.
Schedule 13D regulatory
"amends and supplements the filed by the Reporting Persons with the SEC on February 16, 2024, as amended and supplemented by Amendments No. 1 through No. 8"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
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FAQ

What is Muhammad Asif Seemab’s new role at Children’s Place (PLCE)?

Effective July 7, 2026, Muhammad Asif Seemab was appointed President and interim Chief Executive Officer of The Children’s Place. He previously served as a board member and Executive Vice Chairman and will remain on the board as Vice Chairman after this appointment.

What compensation is Children’s Place (PLCE) paying its interim CEO?

The Children’s Place will pay interim CEO and President Muhammad Asif Seemab an annual base salary of $497,500. This cash compensation is in addition to equity incentives granted by Mithaq from its own shareholdings in the company, subject to market capitalization milestones.

How is the 500,000-share Restricted Stock award to the PLCE interim CEO structured?

Mithaq granted Muhammad Asif Seemab 500,000 restricted Children’s Place shares from its holdings. One-third vests when market capitalization reaches $265 million, another third at $400 million, and the final third at $600 million, with unvested shares expiring July 7, 2031 absent an extension.

What are the key terms of the Mithaq Credit Facility to Children’s Place (PLCE)?

The Mithaq Credit Facility is a senior unsecured $40.0 million credit line. On July 1, 2026, Mithaq advanced $15.0 million, permanently reducing remaining availability to $25.0 million. The company plans to use proceeds for debt prepayment, vendor payables reduction, and general corporate purposes.

How many Children’s Place (PLCE) shares does Muhammad Asif Seemab hold directly?

Muhammad Asif Seemab directly owns 103,583 Children’s Place common shares. These were received as a distribution from Mithaq Capital SPC. He has sole voting and sole dispositive power over these shares, representing approximately 0.5% of the shares outstanding.





168905107

(CUSIP Number)
Turki Saleh A. AlRajhi
c/o Synergy, Anas Ibn Malik Road,
Al Malqa, Riyadh, T0, 13521
966 11 222 2210


Muhammad Asif Seemab
330 Forest Avenue,
Locust Valley, NY, 11560
516 644 0689

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
07/07/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
1. The Reporting Persons (as defined below) other than Snowball (as defined below) are each reporting beneficial ownership of an aggregate of 13,593,236 Common Shares, including beneficial ownership of 1,722 Common Shares held directly by Snowball. The Common Shares stated above as beneficially owned by the Reporting Persons other than Snowball represent approximately 61.1% of the outstanding Common Shares as calculated pursuant to Note 2 below. Snowball beneficially owns 1,722 Common Shares, which represent approximately 0.0% of the outstanding Common Shares as calculated pursuant to Note 2 below. In addition, Muhammad Asif Seemab, a Reporting Person, directly owns 103,583 Common Shares, which are not included in the above totals. 2. All percentage calculations set forth herein are based upon the 22,237,067 Common Shares stated by the Issuer in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on June 12, 2026 as being issued and outstanding as of the close of business on June 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. The Reporting Persons (as defined below) other than Snowball (as defined below) are each reporting beneficial ownership of an aggregate of 13,593,236 Common Shares, including beneficial ownership of 1,722 Common Shares held directly by Snowball. The Common Shares stated above as beneficially owned by the Reporting Persons other than Snowball represent approximately 61.1% of the outstanding Common Shares as calculated pursuant to Note 2 below. Snowball beneficially owns 1,722 Common Shares, which represent approximately 0.0% of the outstanding Common Shares as calculated pursuant to Note 2 below. In addition, Muhammad Asif Seemab, a Reporting Person, directly owns 103,583 Common Shares, which are not included in the above totals. 2. All percentage calculations set forth herein are based upon the 22,237,067 Common Shares stated by the Issuer in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on June 12, 2026 as being issued and outstanding as of the close of business on June 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. The Reporting Persons (as defined below) other than Snowball (as defined below) are each reporting beneficial ownership of an aggregate of 13,593,236 Common Shares, including beneficial ownership of 1,722 Common Shares held directly by Snowball. The Common Shares stated above as beneficially owned by the Reporting Persons other than Snowball represent approximately 61.1% of the outstanding Common Shares as calculated pursuant to Note 2 below. Snowball beneficially owns 1,722 Common Shares, which represent approximately 0.0% of the outstanding Common Shares as calculated pursuant to Note 2 below. In addition, Muhammad Asif Seemab, a Reporting Person, directly owns 103,583 Common Shares, which are not included in the above totals. 2. All percentage calculations set forth herein are based upon the 22,237,067 Common Shares stated by the Issuer in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on June 12, 2026 as being issued and outstanding as of the close of business on June 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. The Reporting Persons (as defined below) other than Snowball (as defined below) are each reporting beneficial ownership of an aggregate of 13,593,236 Common Shares, including beneficial ownership of 1,722 Common Shares held directly by Snowball. The Common Shares stated above as beneficially owned by the Reporting Persons other than Snowball represent approximately 61.1% of the outstanding Common Shares as calculated pursuant to Note 2 below. Snowball beneficially owns 1,722 Common Shares, which represent approximately 0.0% of the outstanding Common Shares as calculated pursuant to Note 2 below. In addition, Muhammad Asif Seemab, a Reporting Person, directly owns 103,583 Common Shares, which are not included in the above totals. 2. All percentage calculations set forth herein are based upon the 22,237,067 Common Shares stated by the Issuer in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on June 12, 2026 as being issued and outstanding as of the close of business on June 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
1. The Reporting Persons (as defined below) other than Snowball (as defined below) are each reporting beneficial ownership of an aggregate of 13,593,236 Common Shares, including beneficial ownership of 1,722 Common Shares held directly by Snowball and beneficial ownership of 103,583 Common Shares held directly by Muhammad Asif Seemab. The Common Shares stated above as beneficially owned by the Reporting Persons other than Snowball represent approximately 61.6% of the outstanding Common Shares as calculated pursuant to Note 2 below. Snowball beneficially owns 1,722 Common Shares, which represent approximately 0.0% of the outstanding Common Shares as calculated pursuant to Note 2 below. The 103,583 Common Shares owned directly by Mr. Seemab were received as a distribution from Mithaq Capital SPC. Mr. Seemab possesses sole voting power and sole dispositive power over such shares, which represent approximately 0.5% of the outstanding Common Shares. 2. All percentage calculations set forth herein are based upon the 22,237,067 Common Shares stated by the Issuer in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on June 12, 2026 as being issued and outstanding as of the close of business on June 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
All percentage calculations set forth herein are based upon the 22,237,067 Common Shares stated by the Issuer in its Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission on June 12, 2026 as being issued and outstanding as of the close of business on June 8, 2026.


SCHEDULE 13D


Mithaq Capital SPC
Signature:Turki Saleh A. AlRajhi
Name/Title:Turki Saleh A. AlRajhi/Director
Date:07/07/2026
Mithaq Global
Signature:Turki Saleh A. AlRajhi
Name/Title:Turki Saleh A. AlRajhi/Director
Date:07/07/2026
Mithaq Capital
Signature:Turki Saleh A. AlRajhi
Name/Title:Turki Saleh A. AlRajhi/Director
Date:07/07/2026
Turki Saleh A. Alrajhi
Signature:Turki Saleh A. Alrajhi
Name/Title:Turki Saleh A. Alrajhi
Date:07/07/2026
Muhammad Asif Seemab
Signature:Muhammad Asif Seemab
Name/Title:Muhammad Asif Seemab
Date:07/07/2026
SNOWBALL COMPOUNDING LTD.
Signature:Turki Saleh A. AlRajhi
Name/Title:Turki Saleh A. Alrajhi/Director of Mithaq Capital SPC, the sole stockholder of Snowball Compounding Ltd.
Date:07/07/2026