Allbirds, in a regulatory filing, reported entering into an amendment agreement with JPMorgan Chase Bank, N.A., that increases borrowings available under its credit line and extends the maturity date from February 20, 2024 to April 17, 2026.

The amendment increases its committed amount from $40 million to $50 million, the uncommitted incremental borrowing capacity from $35 million to $50 million and the interest rate margin by 0.50 percent.

Allbirds wrote in the filing, “As amended, interest on borrowings under the revolving credit facility will accrue at a variable rate equal to (i) SOFR, plus (ii) 0.10 percent, plus (iii) a specified spread of 1.75 percent or 2.00 percent dependent on the average quarterly revolver availability, calculated on the last day of each fiscal quarter being greater than 20 percent of the total revolver commitments or less than or equal to 20 percent of the total revolver commitments, respectively.”