Kidpik (NASDAQ: PIK), a children’s clothing subscription box company, has entered into a securities purchase agreement (“SPA”) with EF Hutton YA Fund LP. According to information filed with the U.S. Securities and Exchange Commission (“SEC”), the agreement calls for Kidpik to sell three tranches of convertible debentures totaling an aggregate principal amount of $2 million. The first tranche, valued at $500,000 was completed on May 18, 2023. Kidpik also agreed to sell an additional $500,000 in convertible debentures upon the filing of a definitive proxy statement with the SEC seeking stockholder approval for, among other things, a merger with Nina Footwear Corp. The SEC filing notes that the company also agreed to sell a third tranche and third convertible debenture of $1 million on or about the date the initial registration statement becomes effective and the approval of its stockholders has been obtained.
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About KidPik Corp.
Kidpik was founded in 2016 as an online clothing subscription box for kids, offering mix-and-match, expertly styled outfits that are curated based on each member’s style preferences. Kidpik delivers a surprise box monthly or seasonally, providing an effortless shopping experience for parents and a fun discovery for kids. Each seasonal collection is designed in-house by a team with decades of experience designing children’s wear. Kidpik combines the expertise of fashion stylists with proprietary data and technology to translate kids’ unique style preferences into surprise boxes of curated outfits. The company has announced its pending merger with Nina Footwear Corp. For more information about the company, please visit www.Kidpik.com.
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