Warby Parker (WRBY) has released an update.
Warby Parker Inc. has entered into a new $120 million revolving credit facility, with options to increase it to $175 million, through an agreement with JPMorgan Chase and other lenders. This facility is intended for general corporate purposes and will be secured by the company’s assets, bearing interest rates based on the prime rate or adjusted SOFR, plus a margin determined by the company’s leverage ratio. The agreement, which includes various financial covenants, will mature on February 21, 2029, and replaces Warby Parker’s previous credit agreement from 2022.
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