- Turnaround & Restructuring Expert Brian Gleason Voted President-Elect of the Turnaround Management Association
- TSL Express Industry Deals
- Concord Serves as Exclusive Financial Advisor for $25MM Senior Debt Facility for ACMS Group
- SFNet New Member Spotlight: CB&S Bank
- Saltire Capital Ltd. Announces Closing of Credit Facility
TSL Express Daily Articles & News
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Today's Top Story
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Asset-based lenders performed well overall in Q4, SFNet reports
Survey shows bank asset-based loan commitments down slightly, but rose for non-banks
The resilience of the asset-based lending market continued in the fourth quarter, according to data released by the Secured Finance Network (SFNet). Lenders held positive against the backdrop of an uneven economy, but are closely watching portfolios in 2024.
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Getting R.E.A.L. in Later Stage, Venture-Backed Companies
In this article, we discuss how leading, managing, and operating a business with a focus on growth and development but with profits and cash flow is far different than driving interesting research and development (R&D) and engineering activities; and how a company should deal with these challenges as they evolve.
TSL Express Daily Headlines & News
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Big Shoulders Capital Refinances $2.1MM in Equipment for Crane Rental Company, Allingham Corporation
August 6, 2024By providing a flexible structure for refinancing their fleet, BSC will enable Allingham to invest in its current fleet and pursue new growth opportunities.
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CohnReznick Announces Tipalti Alliance
August 6, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that its Digital Advisory practice has formed an alliance with Tipalti, a global finance automation company helping organizations drive efficiency through the automation and scalability of payables operations.
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BHMS Investments, LP Closes Fund III With $300 Million of Committed Capital
August 6, 2024BHMS Investments, LP ("BHMS"), a private investment firm focused on the North American middle market, is pleased to announce the closing of BHMS Investments Fund III, LP ("Fund III") at its hard cap of $300 million on July 1.
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Private Funds Partner Kerry Potter McCormick Joins Perkins Coie in New York
August 6, 2024Perkins Coie is pleased to announce that private funds partner Kerry Potter McCormick has joined the firm’s Corporate and Financial Regulation practices in New York. Kerry is the latest private funds partner to join the firm in New York following the addition of Private Capital & Fund Formation Practice Chair Jacquie Duval in June.
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Buca di Beppo Voluntarily Initiates Chapter 11 Proceedings to Facilitate Sale and Ensure Continued Operations
August 6, 2024Buca di Beppo, the renowned family-style Italian dining brand, today announced that it has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas. The goal of the restructuring effort is to ensure a seamless transition and to position the brand for future success.
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Houlihan Lokey Continues Expansion of Global FinTech Platform With Key Hire
August 6, 2024Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Andrew Atherton has joined the firm’s FinTech Group as a Managing Director. Mr. Atherton is based in San Francisco and will cover multiple FinTech sectors as well as FinTech-adjacent enterprise software companies, working closely with his colleagues in both the FinTech and Technology groups to ensure seamless coverage across the firm’s client base.
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P10 Expands Credit Agreement to $500 Million
August 6, 2024P10, Inc. (NYSE: PX) (the “Company”), a leading private markets solutions provider, today announced an amended and restated credit agreement that expands the existing total credit capacity to $500 million from new and existing lenders.
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Commercial Chapter 11 Filings Increase 40 Percent over the Same Period Last Year
August 6, 2024Commercial chapter 11 filings increased 40 percent in July 2024 to 510 from the 364 filings in July 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings also increased 17 percent in July 2024 to 2,335 from 2,004 in July 2023.
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Great Rock Capital Provides a $50 Million DIP Facility to Basic Fun!
August 5, 2024Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that they have provided $50 million in debtor-in-possession (“DIP”) financing to Basic Fun!, an industry leader in the design, development, and marketing of branded toys and imaginative play products to the retail and family entertainment channels.
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Holland & Knight Continues Growth of Financial Services Practice with Addition of Partner Nneoma Maduike in New York
August 5, 2024Holland & Knight has strengthened its Financial Services Team with the addition of Nneoma Maduike as a partner in New York. Ms. Maduike was previously a partner with Otterbourg P.C., where she was co-head of the Lender Finance practice.
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Trinity Capital Inc. Expands its Credit Facility with KeyBank
August 5, 2024- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital," "Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced that it has amended its credit facility led by KeyBank N.A. ("KeyBank"). The amendment expands the original credit facility from $350 million to $440 million in commitments and includes an accordion feature, pursuant to which the Company may increase the size of the credit facility to an aggregate principal amount of $690 million.
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Oportun Announces $245 Million Committed Warehouse Facility
August 5, 2024Features of this new facility include: $245 million total commitment; Deutsche Bank AG, New York branch, as senior lender – a new lending relationship for Oportun; Jefferies, as mezzanine lender – an existing, longstanding lender to Oportun; three-year revolving period; collateralized by Oportun’s unsecured and secured loan originations.
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Commercial Chapter 11 Filings Increase 40 Percent over the Same Period Last Year
August 5, 2024Commercial chapter 11 filings increased 40 percent in July 2024 to 510 from the 364 filings in July 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings also increased 17 percent in July 2024 to 2,335 from 2,004 in July 2023.
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Second Avenue Capital Partners Announces $15 Million Dover Saddlery Partnership to Support Strategic Growth
August 5, 2024Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of customized financing solutions for retail and consumer product sectors, is pleased to announce the closing of a $15,000,000 Senior Secured Revolving Credit Facility for Dover Saddlery, the premier destination for equestrian products and apparel.
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Culain Capital Provides $2 Million Account Receivable Finance Facility to Fast-Growing Seafood Importer
August 5, 2024Culain Capital, a leading provider of financial solutions, announced today that it has provided a $2 million account receivable finance facility to a rapidly expanding seafood importer. The deal was structured and led by Dan Stacy, Senior Vice President.
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North Mill Sets New Monthly Origination Record in July
August 5, 2024North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lessor headquartered in Norwalk, Connecticut, announced today that the company had a record-breaking month in July as funded volume surged to more than $56 million, an increase in loan and lease originations of 33% from the same period last year.
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U.S. Bank Freight Payment Index: Less Contraction, Regional Bright Spots in Second Quarter
August 5, 2024Truck freight volumes and spending continued to drop in the second quarter, but at a slower pace than recent quarters, according to the latest U.S. Bank Freight Payment Index. Shipments increased in three regions – the West, Northeast and Southeast – on a quarterly basis, the first time multiple regions have experienced increased volume in more than a year.
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Welsbach Technology Metals Acquisition Corp. and Evolution Metals LLC Announce $500 Million PIPE Anchor Equity Investment and $6.2 Billion Debt Facility Term Sheet from Broughton Capital Group
August 5, 2024Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) (“WTMA”) and Evolution Metals LLC (“EM”) today announced that, inter alios, WTMA and EM have entered into a Term Sheet (the “Term Sheet”) with certain legally binding clauses with Broughton Capital Group (“BCG”) for BCG, through a special purpose investment vehicle, to provide an equity investment (“Anchor Equity Investor”) of US$500 million through a private investment
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Lundin Mining Announces Closing of $350 Million Term Loan in Connection with the Caserones Option Exercise
August 5, 2024Lundin Mining Corporation (“Lundin Mining” or the “Company”) is pleased to announce the closing of an increase to its existing term loan (“Term Loan”), maturing on July 27, 2027, in the principal amount of $350 million, in connection with the previously announced closing of an additional nineteen percent (19%) interest in SCM Minera Lumina Copper Chile (“Lumina Copper”).
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Wolters Kluwer Survey Reveals Misconceptions Among Small Businesses That are Subject to Beneficial Ownership Reporting
August 5, 2024A new survey by Wolters Kluwer reveals that 33% of respondents representing small businesses that meet the reporting criteria and should be filing this year mistakenly don’t believe that beneficial ownership information (BOI) reporting applies to their organizations.
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The Secured Lender
SFNet's 80th Annual Convention Issue