05:03 PM EST, 12/31/2024 (MT Newswires) -- Children's Place (PLCE) said Tuesday it has started its rights offering to buy up to $90 million in shares, representing about 9.2 million shares in total.

The firm said it is offering to each stockholder of record date Dec. 13 one non-transferable subscription right for each full share owned at $9.75 per share. The rights offering subscription period will expire on Jan. 31, unless extended.

Proceeds from the rights offering will be used to make a prepayment of its debt and for general operating, working capital and other purposes, it said.