ThredUp Signs Binding Contract to Divest European Business [Yahoo! Finance]
ThredUp Inc. - Class A (TDUP)
Company Research
Source: Yahoo! Finance
During its Q2 earnings call in August, CEO James Reinhart noted that the company had European divestment on its roadmap . By the time the company's Q3 earnings call came along in November, the company said it had made a non-binding agreement to offload Remix. Now, the transaction has been made official. More from Sourcing Journal Consumers Show More Interest in Secondhand Gifts This Holiday The Equestrian Aesthetic Is Driving Holiday Resale Trends Resale and Recycling Providers Are Gearing Up for California's Textile EPR In its filing with the U.S. Securities and Exchange Commission ( SEC ) disclosing the details of the deal, the company noted that Florin Filote, ThredUp's general manager of Europe, is leading the charge on the management buyout. According to ThredUp's Dec. 3 Form 8-K filing, Filote paid €1 ($1.05) for 8,100,000 shares of Remix US Holdings, a new entity formed by the transaction. That accounts for 91 percent of the company's total shares. ThredUp will kee
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TDUP
News
- Last Minute Sustainable Gifts For The Holidays [Forbes]Forbes
- ThredUp exits Europe with Remix sale to focus on core US market [Yahoo! Finance]Yahoo! Finance
- ThredUp fashion marketplace offloads its European business, Remix [TechCrunch]TechCrunch
- ThredUp Completes Divestiture of European Business [Yahoo! Finance]Yahoo! Finance
- ThredUp Completes Divestiture of European BusinessBusiness Wire
TDUP
Earnings
- 11/4/24 - Miss
TDUP
Sec Filings
- 1/2/25 - Form 4
- 12/16/24 - Form 4
- 12/11/24 - Form 4
- TDUP's page on the SEC website