- High-Quality, Excess Gear Goes to Auction in Tiger Group AV Sale
- Flatbay Capital Grows Presence in Dallas-Fort Worth Area with New Marketing Representative and Brand Ambassador
- Prominent Structured Finance Partner Joins Latham & Watkins in New York
- First Citizens Bank Leads $125 Million Financing for New Day Healthcare
- Online Auction Features Rental and Production-Ready Audio, Video and Lighting Gear
TSL Express Daily Articles & News
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Today's Top Story
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Moritt Hock & Hamroff Appoints Its First Chairman and Names Its Next Managing Partner
Marc Hamroff, who had been Managing Partner of Moritt Hock & Hamroff LLP for over 25 years, is assuming the role of Chairman. Michael Cardello III, a long-standing member of the firm's Management Committee and former Chair of the Litigation practice, has been elected Managing Partner.
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Muskets and Drones: The Need for Super Regional Banks
In 2023 the SVB crises brought Super Regional Banks into the national spotlight. Countless stories were run speculating on the viability of many, but few addressed the how and why many of these banks came to be. The rise, creation and further consolidation of Super Regionals is a story worth telling and one that will likely continue to play out in 2024 in a meaningful way.
TSL Express Daily Headlines & News
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In Memoriam: Debra Putzer
July 8, 2024
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Eclipse Business Capital Provides $101.2MM Senior Secured Credit Facility To An Automotive Parts Manufacturer
July 8, 2024Eclipse Business Capital LLC (“EBC”) announced that it has provided a $101.2 million senior secured credit facility, consisting of an ABL revolving line of credit and term loan to an automotive parts manufacturer. The credit facility is secured by accounts receivable, inventory, and machinery & equipment.
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Peter Williams to Join Cahill's New York Office as a Partner and Co-Head of its Private Credit Practice
July 8, 2024Cahill Gordon & Reindel LLP announced today that Peter Williams will join the firm on July 15 as a partner in New York, where he will serve as Co-Head of its Private Credit practice.
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Wingspire Capital Provides $60 Million Senior Secured Revolver to Comtech Telecommunications Corp.
July 8, 2024Wingspire Capital provided a $60 million senior secured revolving credit facility to Comtech Telecommunications Corp. (Nasdaq: CMTL). The transaction was part of a broader $222 million credit facility that included a $162 million term loan agented by TCW Private Credit.
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Entrepreneur Growth Capital LLC Provides $2,000,000 Line of Credit to Frozen Seafood Distributor
July 8, 2024Entrepreneur Growth Capital LLC (“EGC”) is pleased to announce the closing of a $2 million asset-based facility for a frozen seafood distributor. The facility provides availability against both accounts receivable, inventory and monthly recurring revenue (“MRR”).
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J D Factors Provides $8,625,000 in new Factoring Facilities During June
July 8, 2024J D Factors provided $8,625,000 in new factoring facilities to 37 new clients in the US and Canada during the month of June.
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Lion Electric Announces Amendments to Certain Senior Credit Instruments and the Entering Into Of New Financing
July 8, 2024The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced today that it has entered into amendments to certain of its senior credit instruments, namely (i) its senior revolving credit agreement entered into with a syndicate of lenders represented by National Bank of Canada, as administrative agent and collateral agent, and including Bank of Montreal and Federation des Caisses Desjardins du Québec
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Heads of Terms Agreed for US$35 million Revolving Credit Facility
July 8, 2024Amaroq Minerals Ltd. (AIM:AMRQ)(TSXV:AMRQ)(NASDAQ Iceland:AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, is pleased to announce that it has agreed heads of terms, subject to final documentation, with Landsbankinn for US$35 million in three Revolving Credit Facilities (the "Facilities"), securing a substantial increase and extension to its current debt facilities.
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Archwest Capital, Leading National Residential Lender, Secures Strategic Growth Investment from Bain Capital
July 8, 2024Archwest Capital (“Archwest” or the “Company”), a lender specializing in non-owner-occupied residential real estate loan solutions, today announced it has secured a significant growth investment from Bain Capital. Bain Capital and its affiliates will acquire a controlling stake in the Company, with management, led by Chief Executive Officer Shawn Miller, retaining a significant minority stake. Financial terms of the private investment were not disclosed.
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Strategic Growth Continues: US Capital Global Expands Dubai Office with New Vice President, Ahmed Eid
July 8, 2024US Capital Global, a leading global private financial group for the middle market, is excited to announce the appointment of Ahmed Eid as Vice President at its office in Dubai, UAE. Ahmed Eid brings a wealth of expertise and a distinguished track record in international finance, particularly in the Middle East markets, to his role at US Capital Global.
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B. Riley’s Dan Daitchman Elected as American Society of Appraisers 2024-2025 Business Valuation Discipline Committee Member-At-Large
July 8, 2024B. Riley Financial, Inc. (Nasdaq: RILY) (“B. Riley”) is pleased to congratulate Dan Daitchman, ASA, on his election as American Society of Appraisers’ Business Valuation Discipline Committee Member-At-Large for the 2024-2025 term.
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Greenberg Traurig Taps Prominent M&A Lawyer Chadi Salloum to Lead UAE Corporate Practice
July 8, 2024Global law firm Greenberg Traurig, LLP has named Chadi Salloum head of the firm’s United Arab Emirates (UAE) Corporate Practice. Salloum will practice in the firm’s UAE and Kingdom of Saudi Arabia (KSA) locations.
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Orrstown Financial Services and Codorus Valley Bancorp Successfully Complete Merger of Equals
July 8, 2024Orrstown Financial Services, Inc. (NASDAQ: ORRF), the holding company for Orrstown Bank (“Orrstown”), and Codorus Valley Bancorp, Inc. (NASDAQ: CVLY), the holding company for PeoplesBank, A Codorus Valley Company (“Codorus Valley”), today announced the successful completion of their previously announced merger of equals creating a premier Pennsylvania and Maryland community bank.
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Spruce Power Announces $130 Million Debt Financing
July 8, 2024Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced that certain of its subsidiaries have closed on a $130 million non-recourse debt facility (the “New Debt Facility”) provided by Barings LLC (“Barings”).
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Commercial Chapter 11 Filings Increased 70 Percent in First Half of 2024
July 8, 2024The 987 total commercial chapter 11 bankruptcies filed during the first six months of 2024 represented a 70 percent increase over the 582 filed during the same period in 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data.
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Briar Capital Real Estate Fund Provides $4MM Real Estate Loan to a New York-based Transportation Company
July 8, 2024Briar Capital Real Estate Fund (www.BriarCapital.com) is pleased to announce the closing of a new $4MM commercial real estate loan in New York to a business providing warehousing and transportation services in the Northeast.
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Davis Polk Elects Six New Partners
July 8, 2024Davis Polk has announced that Aaron Ferner, Zachary Frimet, David Kennedy, Brett McMahon, Michael Senders and Aliza Slansky have been elected partners of the firm, effective July 1, 2024.
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SFNet New Member Spotlight: Resilience Insurance Analytics
July 8, 2024Resilience Insurance Analytics provides risk based and market-based advice with customized analysis to preserve the credit quality and longevity of commercial loans. We offer pre- and post-closing insurance review services to clients seeking comprehensive assessment of proposed insurance coverage and provide assistance securing and-or maintaining coverage.
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B. Riley Securities Served as Financial Advisor and Lead Placement Agent for Radiopharm Theranostics in a $46.9 Million Financing
July 3, 2024B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank,is pleased to have led a $46.9 million financing for Radiopharm Theranostics Limited ("RAD" or the "Company”), an ASX listed clinical stage biotechnology company developing targeted radiopharmaceutical therapies and diagnostics for multiple types of cancer.
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Bob's Stores Announces Going-Out-of-Business Sale Across All Locations
July 2, 2024Bob's Stores ("Bob's"), a subsidiary of GoDigital Media Group, announced that the company will close all of it's Bob's locations and liquidate all inventory, as part of the Chapter 11 restructuring petition filed on June 18, 2024. Despite making swift and aggressive changes to the company's structure and operations, Bob's Stores was unable to secure the finances needed to maintain operations. Bob's stores began Going Out of Business sales in stores on Friday June 28, with discounts of 30-70% off.
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The Secured Lender
SFNet's 80th Annual Convention Issue