A.K.A. Brands Refinances $120m Facility
A.K.A. Brands, the parent company of Culture Kings, has refinanced its facility with a new $120 million credit agreement.
According to Kevin Grant, CFO of A.K.A. Brands,
this will support the company's next phase.
- The new facility includes an $85 million term loan and $35 million revolving credit capacity.
- The debt maturity has been extended to 2028.
- The interest rate is based on the Secured Overnight Financing Rate (SOFR) plus 3.25% to 3.75% per annum.
The company's adjusted EBITDA was $7.5 million in the second quarter of 2025, down from $8 million in the same period in 2024.
A.K.A. Brands reported an adjusted EBITDA of $23.3 million in 2024, or 4.1% of net sales, compared to $13.8 million, or 2.5% of net sales in 2023.
Author's summary: A.K.A. Brands refinances $120m facility to support growth.