Lovesac Enhances Financial Flexibility and Shareholder Value

The Lovesac Company (LOVE) just unveiled an announcement.

On July 29, 2024, The Lovesac Company amended its credit agreement, adding an option to increase its revolving credit facility by $10 million and extending the maturity date of loans to July 29, 2029. The amendment maintains a $40 million maximum commitment, with interest rates varying based on the company’s financial position. Concurrently, Lovesac’s Board authorized the repurchase of up to $40 million of its common stock, with the repurchase timing and amount at management’s discretion, based on market conditions. Both moves signal strategic financial positioning by Lovesac to strengthen its capital structure and enhance shareholder value.

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