BUILD-A-BEAR WORKSHOP INC 8-K

What Happened
Build‑A‑Bear Workshop, Inc. announced on December 31, 2025 that it entered into a Third Amendment to its Revolving Credit and Security Agreement with the lenders party thereto and PNC Bank, National Association as agent. The amendment modifies the Original Credit Agreement dated August 25, 2020, which had previously been amended on December 17, 2021 and November 21, 2022. The Company acted as borrowing agent and borrower, Build‑A‑Bear Retail Management, Inc. is an additional borrower, and four subsidiaries (Build‑A‑Bear Workshop Franchise Holdings, Inc.; Build‑A‑Bear Entertainment, LLC; Build‑A‑Bear Card Services, LLC; Build‑A‑Bear Workshop Canada, Ltd.) are guarantors.

Key Details

• Amendment executed: Third Amendment to Revolving Credit and Security Agreement, dated December 31, 2025.
• Parties: Build‑A‑Bear Workshop, Inc. (borrowing agent & borrower); Build‑A‑Bear Retail Management, Inc. (additional borrower); four named subsidiaries as guarantors; lenders party thereto; PNC Bank as agent.
• Original agreement date: August 25, 2020; prior amendments on December 17, 2021 and November 21, 2022.
• Filing includes Exhibit 10.1 (the Third Amendment); certain schedules/attachments were omitted under Item 601(a)(5) of Regulation S‑K and are available to the SEC on request.

Why It Matters
This 8‑K reports a material change to Build‑A‑Bear’s credit arrangements — a formal amendment to the company’s revolving credit facility — which is part of the company’s debt and liquidity framework. Investors should review the filed amendment (Exhibit 10.1) or request omitted schedules from the SEC to understand any changes to borrowing capacity, covenants, maturities, or pricing that could affect the company’s financing flexibility. This disclosure is reported under Item 1.01 (Entry into a Material Definitive Agreement).