Solo Brands (DTCB) Appoints John Larson as CEO

Solo Brands, Inc. (NYSE: DTC), a leading portfolio of lifestyle brands (Solo Stove, Chubbies, Isle and Oru) that are redefining the outdoor and apparel industries, today announced that Mr. John P. Larson was appointed as permanent President and Chief Executive Officer, effective immediately. Mr. Larson will also continue to serve on the Company’s Board.

The Company also announced that Solo Brands, LLC, as borrower (the “Borrower”), an indirect subsidiary of the Company, entered into Amendment No. 4 (the “Amendment”) to the Credit Agreement dated as of May 12, 2021 (as amended, the “Credit Agreement”), by and among the Borrower, JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and letter of credit issuer, and the lenders party thereto, to effect a comprehensive debt restructuring.

John Larson, Solo Brand’s President and Chief Executive Officer, commented, “This is a pivotal time for Solo Brands, and we have a strong team in place to implement our plans. This successful debt restructuring marks a substantial step forward, creating a significant runway and providing financial flexibility to execute our strategic vision. We believe we have taken appropriate steps to strengthen our balance sheet and liquidity position that underpins our multi-year transformational growth strategy.

“We are confident that our strong brand recognition, coupled with our turnaround efforts and value accretive initiatives, will position us to continue down the pathway to stabilize and transform the business. We appreciate the collaboration and support from our lenders. Finally, I am excited to continue in the CEO role, permanently, as the team, Board, and I are well aligned,” Larson concluded.

Key Transaction Terms

The Amendment, which became effective on June 13, 2025, reallocated and restructured the Borrower’s debt under the Credit Agreement to provide a revolving credit facility with commitments equal to $90.0 million; a new term loan facility in an aggregate principal amount equal to $240.0 million; and the paydown by the Borrower of $136.5 million of revolving loans and $32.5 of existing term loans outstanding as of June 13, 2025. As a result, as of June 13, 2025, the Company’s total outstanding debt under the revolving facility was $19.7 million, and the Company’s total outstanding debt under the new term loan facility was $240.0 million. In addition, the Amendment extends the stated maturity of the revolving loans and the new term loans to June 30, 2028.

Additional terms of the Amendment are set forth in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 16, 2025.

Advisors

Kirkland & Ellis LLP served as legal counsel, Lazard served as financial advisor, and AlixPartners served as operational advisor to the Company.

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