J.Crew Group Inc said on Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted its restructuring plan. The plan, approved by a Virginia federal court, will equitize over $1.6 billion of secured debt, and provide for $400 million in asset-based loan as well as $400 million of fresh financial aid.

Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced that on July 15, 2020, it closed a $10 million senior secured term loan with Inhibrx, Inc. (or "the Company") (Nasdaq: INBX), a clinical-stage biotechnology company focused on developing a broad pipeline of novel biologic therapeutic candidates. The funds, which were secured prior to the Company's recent initial public offering, will provide general growth capital as Inhibrx aims to evolve into a commercial-stage biotechnology company.

The debt agreements governing $297 million of debt at Braves Stadium Company, LLC (collectively the “Ballpark funding”) have been amended such that the applicable financial covenants will not apply until the quarter ending September 30, 2021, subject to certain conditions being met.

Cequence Energy Ltd. (“Cequence” or “the Company“) announces a recapitalization transaction (the “Restructuring Transaction”), to be implemented as a plan of compromise and arrangement (the “Plan”) under the Companies’ Creditors Arrangement Act (“CCAA”) that will allow Cequence to reduce its debt and interest costs and improve liquidity to fund future operations. In connection with the Plan, Cequence has entered into a restructuring support agreement (the “Support Agreement”) with certain lenders under the Company’s second lien senior secured $50.0 million term loan facility due October 3, 2023

1st Commercial Credit, LLC is an Austin, Texas-based factoring company servicing all of the United States and has recently expanded its sales territory with sales offices in Dallas, Houston and San Antonio Texas.

Melissa Coffey has been appointed as Assistant Vice President and Branch Manager of the Wise and Norton, Virginia offices. Coffey is a 2006 graduate of the University of South Carolina. She has 14 years of banking experience, and has been with First Bank & Trust Company for nine years. Coffey began her work with First Bank & Trust Company in Norton, Virginia as lender, then in 2017 assumed the role of Branch Manager of the Norton office where she spent much of her lending focus on residential real estate and consumer lending.

FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has entered into a restructuring support agreement (the “Agreement”) with approximately 75 percent of the holders of the Company’s 6.250% senior secured notes due 2022 (the “Secured Notes”) and approximately 64 percent of the Company’s secured debt claims. The Agreement outlines a comprehensive restructuring that will deleverage the Company’s balance sheet by $437.3 million and provide it with the financial flexibility to deliver results-oriented and innovative well completion solutions to its customers. Importantly, the Agreement contemplates that the Company’s vendors, suppliers, and customers will remain unaffected by the transaction.

Austin Financial Services, Inc. (AFS) is pleased to welcome Joe Curdy as its new Senior Vice President and Chief Risk Officer. In this role, Curdy will work alongside senior management and be responsible for managing asset quality & financial risk to ensure it continues to meet the organization's high credit standards and growth goals.

Citizens M&A Advisory served as the exclusive financial advisor to OSG, an Aquiline Capital Partners portfolio company, on its divestiture of Applied Revenue Analytics ("AppRev"), a provider of revenue cycle optimization and revenue integrity solutions. AppRev was acquired by Centauri Health Solutions, a healthcare technology and services provider and portfolio company of Abry Partners.

Rosenthal & Rosenthal, Inc., today announced the completion of a recent purchase order finance facility to support the production financing requirements of a Wisconsin based apparel company that imports licensed casual wear.

Pyxus International, Inc. ("Pyxus" or "the Company"), a global value-added agricultural company, announced today that the Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Pyxus International, Inc. and Its Affiliated Debtors (the "Plan") confirmed by the United States Bankruptcy Court for the District of Delaware on August 21, 2020 has become effective. As a result, Pyxus has successfully completed its financial restructuring and emerged from Chapter 11 with its debt reduced by more than $400 million and maturities extended. Simpson Thacher & Bartlett LLP served as legal counsel, and Lazard and RPA Advisors served as financial advisors to Pyxus.

Kirkland & Ellis LLP and Winston & Strawn LLP are acting as legal counsel, Lazard is acting as financial advisor, and Alvarez & Marsal LLP is acting as restructuring advisor to the Company in connection with the restructuring. Davis Polk & Wardwell LLP is acting as legal counsel and Ducera Partners LLC and Silver Foundry, LP are acting as financial advisors to an ad hoc group of Secured Noteholders and consenting creditors.

Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that Gavin A. Mohr has been hired as the organization’s new Chief Financial Officer, commencing September 14, 2020. Previously, IBCP announced on June 23, 2020, that Robert Shuster, the current Executive Vice President and Chief Financial Officer of the Corporation and the Bank, had returned on an interim basis following his previous retirement on January 31, 2020. Mr. Shuster will remain with the organization as a Senior Financial Executive until approximately October 31, 2020 to assist Mr. Mohr with his transition.

Secures Commitment for $20 million in Debtor-in-Possession Financing Voluntarily Commences Chapter 11 Proceedings in the U.S. Bankruptcy Court for the Southern District of New York to Facilitate Sale Kings Food Markets and Balducci's Food Lover's Market to Operate Business as Usual During Sale Process

Wellfleet Credit Partners (“Wellfleet”), the performing credit business of Littlejohn & Co., LLC, today announced the closing of Wellfleet CLO 2020-2, a $396.0 million collateralized loan obligation (CLO). Following the issuance of Wellfleet CLO 2020-2, Wellfleet has approximately $5.4 billion in assets under management across thirteen CLOs. Credit Suisse Securities (USA) LLC acted as the arranger for the CLO. Milbank LLP acted as legal advisor to Wellfleet.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,” “EFSC,” “Enterprise,” “we,” “us,” or “our”), the holding company of Enterprise Bank & Trust (“EB&T”), and Seacoast Commerce Banc Holdings (OTCPK: SCBH) ("SCBH"), the holding company of Seacoast Commerce Bank (“Seacoast”), announced today that EFSC, EB&T, SCBH and Seacoast have entered into a definitive merger agreement in a transaction valued at approximately $156 million, or $15.80 per SCBH share, based on the closing price of EFSC’s common stock on August 19, 2020.

The leading tour operator in the Baltic States Novaturas Group has agreed on a EUR 1 million long-term loan received under the Ministry of the Economy and Innovation of the Republic of Lithuania and state investment and business guarantee fund Invega. The Company intends to use it to refund cancelled trips due to pandemic.

Crestmark secured a total of $6,500,000 in ABL financial solutions for four new clients; Crestmark Equipment Finance provided $524,700 in one new lease transaction; Crestmark Vendor Finance provided $8,165,144 in 96 new lease transactions; and the Government Guaranteed Lending group provided $31,820,200 in financing for seven new clients in the first half of August.

Business Capital (BizCap®), a leading commercial finance and advisory firm, is expanding its team with the recent addition of David Schubel as a Vice President of Originations. He will be based in Texas and responsible for developing and managing new business opportunities in the Southwest region, working with our capital markets and credit teams, partners and clients to structure and deploy commercial financing and restructuring solutions for mid-sized businesses.

The 2020 pandemic has created financial stress for many businesses throughout the country. Many of these are well-run companies challenged by forces beyond their control. During exceptional times, bank lending restrictions and standard loan structuring methodologies may not provide enough flexibility for companies. Gibraltar prides itself on understanding the situations our clients face and creating flexible financing structures to meet their challenges head on. This enabled us recently to provide Ditto Sales Inc. with a $4 million asset-based loan to help them manage through obstacles faced by their business.