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Case Background:

On February 28, 2024, Thrasio Holdings announced that it has entered into a restructuring support agreement (the “Restructuring Support Agreement”) with approximately 81% of its revolving credit facility lenders and approximately 88% of its term loan lenders that will reduce approximately $495 million of the Company’s existing debt, defer all interest payments in the first year post-emergence and infuse new capital into the Company. To implement the terms of the Restructuring Support Agreement, Thrasio has initiated an expedited, pre-arranged court-supervised Chapter 11 process in the U.S. Bankruptcy Court for the District of New Jersey.

Thrasio expects to use this process to strengthen its financial position and meaningfully deleverage its balance sheet. The Company will continue to operate its business normally and without interruption throughout the Chapter 11 process. Thrasio aims to complete the court-supervised process on an expedited basis.

Thrasio has received commitments from certain of its lenders for up to $90 million in new financing. This infusion of new capital is expected to provide sufficient liquidity to support the Company throughout this process and beyond. In particular, the financing will enable the continued operation of Thrasio’s brands, support ongoing business operations and provide the Company with access to new capital upon emergence from Chapter 11 to support go-forward business operations.

Thrasio’s case has been assigned to the Honorable Christine M. Gravelle and Case Number 24-11840. The Docket can be accessed on this website or through the website maintained by the U.S. Bankruptcy Court for the District of New Jersey.

Additional information regarding Thrasio’s restructuring is available at ThrasioRestructuring.com .