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Greenbrook TMS Closes $30 Million Credit Facility With Oxford Finance LLC
January 4, 2021Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, announced today that it and its subsidiaries have entered into a credit and security agreement for a US$30 million secured credit facility (the “Credit Facility”) with Oxford Finance LLC (“Oxford”). Bloom Burton Securities Inc. acted as the Company’s sole financial adviser in connection with the transaction.
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Power Solutions International Announces Amendment to Credit Agreement
January 4, 2021Power Solutions International, Inc. (“the Company”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced that it entered into a first amendment to its one-year senior secured revolving credit facility pursuant to that certain credit agreement dated March 27, 2020, between the Company and Standard Chartered Bank (“Standard Chartered”).
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MidCap Business Credit Closes on a $6 Million Asset-Based Credit Facility
January 4, 2021The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to structure a flexible credit facility for the sponsor and close quickly, which will assist them in helping the business achieve their financial objectives”.
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MidFirst Business Credit Announces New Lending Relationship with Morcon, Inc.
January 4, 2021MidFirst Business Credit (MFBC) announced it has provided $8.5 million in working capital and capital expenditure facilities to Morcon, Inc. (Morcon). Located in Eagle Bridge, NY, Morcon is a commercial paper tissue converting company with three primary product lines: tissue, towel and napkins. The funds were used to provide additional working capital and help facilitate further business expansion. The transaction was completed on December 22, 2020.
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J D Factors Announces Factoring Facilities
January 4, 2021J D Factors announced it had provided the following factoring facilities: $50,000 to a transportation company in Kentucky; $400,000 to a transportation company in Illinois; $50,000 to a transportation company in Texas and $250,000 to a transportation company in Georgia.
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Encina Business Credit Provides $30 Million Revolving Credit Facility to E-Commerce Retailer
January 4, 2021Encina Business Credit, LLC announced today that it has provided a $30 million senior secured revolving credit facility to an e-commerce retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable, credit card receivables, and inventory, was used by the company’s private equity investor to finance its acquisition and ongoing working capital financing needs.
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Siena Healthcare Finance Provides $15MM Working Capital Facility to California-Based SNF
January 4, 2021Siena Healthcare Finance recently closed on a $15 million asset-based line of credit for a skilled nursing operator based in California. The line was used to refinance an existing credit facility and provide working capital to support ongoing operations.
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Perella Weinberg Partners and FinTech IV Announce Execution of Definitive Business Combination Agreement
January 4, 2021Perella Weinberg Partners (“PWP”), a leading global independent advisory firm, and FinTech Acquisition Corp. IV (NASDAQ: FTIV) (“FinTech IV”), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement. Upon closing of the transaction, the combined company (the “Company”) will operate as Perella Weinberg Partners and will be listed on NASDAQ under the new symbol “PWP.” The transaction reflects an implied equity value for the Company of approximately $975 million.
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TAB Bank Provides $4 Million Senior Credit Facility to The Good Bean
January 4, 2021TAB Bank is pleased to announce it has entered into a multi-year agreement with The Good Bean to provide a $4 million revolving credit facility. The facility was used to provide for the company’s ongoing working capital needs as it continues grow and expand the reach of its portfolio of healthy plant-based snacks, confections, and other innovations.
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Horizon Technology Finance Provides $5 Million Venture Loan to Corinth MedTech
January 4, 2021Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $5 million venture loan to Corinth MedTech, Inc. ("Corinth").
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Wave Computing and MIPS Technologies Reach Agreement to Exit Bankruptcy
January 4, 2021Company expects to exit bankruptcy in January 2021 pending creditor and court approval of Tallwood-led reorganization plan. A team from Sidley Austin LLP led by Sam Newman is serving as legal counsel to Wave, SierraConstellation Partners is serving as financial and restructuring adviser, and Armory Securities is serving as investment banker. Binder & Malter LLP is serving as legal counsel to Tallwood
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J.F. Lehman & Company Acquires CTS Engines; Barings Finance and Siemens Financial Services Provide Debt Financing
January 4, 2021Debt financing for the transaction was provided by Barings Finance and Siemens Financial Services. Jones Day served as lead legal counsel for J.F. Lehman & Company. Baker Hostetler provided Government Contracts, Defense Security and International Trade advice to J.F. Lehman & Company. William Blair served as lead financial advisor to CTS, and Lincoln International served as co-advisor. Bartlit Beck provided legal counsel to CTS and the selling equityholders.
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Harvest Capital Credit to Merge Into Portman Ridge Finance
January 4, 2021Harvest Capital Credit Corp. entered into a definitive agreement to merge with and into Portman Ridge Finance Corp., a business development company managed by Sierra Crest Investment Management LLC. The transaction was unanimously approved by Harvest Capital's special committee and board as well as Portman Ridge's board. The parties expect the merger to be completed by the second quarter of 2021.
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BankProv Expands Small Business Lending Team with New Experienced Lenders
January 4, 2021BankProv, an innovative, commercial bank that finds solutions for business and private clients, has grown its small business lending team with two new hires: Joel Gianninoto, Vice President, Commercial Lending, and Ryan Fox, Assistant Vice President, Commercial Lending. Joel Gianninoto joined BankProv in March 2020 with almost 10 years of banking experience, having previously held positions at Citizens Financial Group and Salem Five Bank.
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NFI Group Announces Amendments to its Credit Facilities
January 4, 2021NFI Group Inc. ("NFI" or the "Company") today announced it has amended the Revolver and the UK Facility (together, the "Facilities"), providing meaningful covenant relief and additional flexibility, and cancelled the $250 million Sidecar. The Bank of Nova Scotia is the Administrative Agent for the Revolver and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada.
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Wolters Kluwer Enhances End-to-End User Experience for Latest PPP Funding Through TSoftPlus Software and eOriginal Platform
January 4, 2021In anticipation of the recently announced U.S. fiscal stimulus package, which provides $284.5 billion in additional Paycheck Protection Program (PPP) stimulus funding, Wolters Kluwer’s Compliance Solutions business has further enhanced its award-winning Paycheck Protection Program Supported by TSoftPlus™ software to expedite Small Business Administration (SBA) loan applications. Thanks to its recently announced acquisition of eOriginal, Wolters Kluwer Compliance Solutions is also able to offer a digital loan platform that enables compliance with SBA Appendix 8 mandates for digital loans.
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Chris Szopa Joins 36th Street Capital as Director of Capital Markets and In‐House Counsel
January 4, 202136th Street Capital Partners, LLC (“36th Street Capital”), an independent provider of equipment financing solutions, announced the appointment of Christopher Szopa as Director of Capital Markets and In-House Counsel.
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Celtic Capital Corporation Announces New Client Relationship
January 4, 2021Celtic Capital Corporation today announced its most recent new client relationship – a Colorado-based wood mill and veneer manufacturer. Referred by a bank from which we’ve taken out many clients, this deal came to Celtic Capital for financing to complete the build-out of its plant and to provide this year-and-a-half old company with working capital.
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Ashford Hospitality Trust Secures Commitment For $200 Million Corporate Financing With Ability To Upsize To $350 Million
January 4, 2021Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that the Company has secured a strategic financing commitment from funds managed by Oaktree Capital Management, L.P. ("Oaktree") to provide a $200 million senior secured term loan ("Loan"). In addition, the financing commitment can be upsized by $150 million to an aggregate amount of $350 million. RBC Capital Markets, LLC served as the Company's financial advisor on the transaction, and Weil, Gotshal & Manges LLP and Cadwalader, Wickersham & Taft LLP served as legal counsel.
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Sunflower Bank’s Leveraged Finance Team Provides Senior Debt Financing to Modus
January 4, 2021Sunflower Bank, N.A. is pleased to announce that its Leveraged Finance team served as joint lead srranger for a senior debt facility that was led by KeyBanc Capital Markets . The senior debt facility supported the acquisition of NextEdge Networks Holdings and its wholly-owned subsidiary, Modus (collectively “Modus”) by Bow River Capital. The transaction closed in August 2020.
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Greenbrook TMS Closes $30 Million Credit Facility With Oxford Finance LLC
January 4, 2021Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, announced today that it and its subsidiaries have entered into a credit and security agreement for a US$30 million secured credit facility (the “Credit Facility”) with Oxford Finance LLC (“Oxford”). Bloom Burton Securities Inc. acted as the Company’s sole financial adviser in connection with the transaction.
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Power Solutions International Announces Amendment to Credit Agreement
January 4, 2021Power Solutions International, Inc. (“the Company”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced that it entered into a first amendment to its one-year senior secured revolving credit facility pursuant to that certain credit agreement dated March 27, 2020, between the Company and Standard Chartered Bank (“Standard Chartered”).
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MidCap Business Credit Closes on a $6 Million Asset-Based Credit Facility
January 4, 2021The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT. Seth Cooper, Senior Vice President of MidCap Business Credit said, “We were able to structure a flexible credit facility for the sponsor and close quickly, which will assist them in helping the business achieve their financial objectives”.
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MidFirst Business Credit Announces New Lending Relationship with Morcon, Inc.
January 4, 2021MidFirst Business Credit (MFBC) announced it has provided $8.5 million in working capital and capital expenditure facilities to Morcon, Inc. (Morcon). Located in Eagle Bridge, NY, Morcon is a commercial paper tissue converting company with three primary product lines: tissue, towel and napkins. The funds were used to provide additional working capital and help facilitate further business expansion. The transaction was completed on December 22, 2020.
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J D Factors Announces Factoring Facilities
January 4, 2021J D Factors announced it had provided the following factoring facilities: $50,000 to a transportation company in Kentucky; $400,000 to a transportation company in Illinois; $50,000 to a transportation company in Texas and $250,000 to a transportation company in Georgia.
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Encina Business Credit Provides $30 Million Revolving Credit Facility to E-Commerce Retailer
January 4, 2021Encina Business Credit, LLC announced today that it has provided a $30 million senior secured revolving credit facility to an e-commerce retailer. The senior secured revolving line of credit, which is collateralized by accounts receivable, credit card receivables, and inventory, was used by the company’s private equity investor to finance its acquisition and ongoing working capital financing needs.
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Siena Healthcare Finance Provides $15MM Working Capital Facility to California-Based SNF
January 4, 2021Siena Healthcare Finance recently closed on a $15 million asset-based line of credit for a skilled nursing operator based in California. The line was used to refinance an existing credit facility and provide working capital to support ongoing operations.
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Perella Weinberg Partners and FinTech IV Announce Execution of Definitive Business Combination Agreement
January 4, 2021Perella Weinberg Partners (“PWP”), a leading global independent advisory firm, and FinTech Acquisition Corp. IV (NASDAQ: FTIV) (“FinTech IV”), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement. Upon closing of the transaction, the combined company (the “Company”) will operate as Perella Weinberg Partners and will be listed on NASDAQ under the new symbol “PWP.” The transaction reflects an implied equity value for the Company of approximately $975 million.
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TAB Bank Provides $4 Million Senior Credit Facility to The Good Bean
January 4, 2021TAB Bank is pleased to announce it has entered into a multi-year agreement with The Good Bean to provide a $4 million revolving credit facility. The facility was used to provide for the company’s ongoing working capital needs as it continues grow and expand the reach of its portfolio of healthy plant-based snacks, confections, and other innovations.
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Horizon Technology Finance Provides $5 Million Venture Loan to Corinth MedTech
January 4, 2021Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $5 million venture loan to Corinth MedTech, Inc. ("Corinth").
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Wave Computing and MIPS Technologies Reach Agreement to Exit Bankruptcy
January 4, 2021Company expects to exit bankruptcy in January 2021 pending creditor and court approval of Tallwood-led reorganization plan. A team from Sidley Austin LLP led by Sam Newman is serving as legal counsel to Wave, SierraConstellation Partners is serving as financial and restructuring adviser, and Armory Securities is serving as investment banker. Binder & Malter LLP is serving as legal counsel to Tallwood
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J.F. Lehman & Company Acquires CTS Engines; Barings Finance and Siemens Financial Services Provide Debt Financing
January 4, 2021Debt financing for the transaction was provided by Barings Finance and Siemens Financial Services. Jones Day served as lead legal counsel for J.F. Lehman & Company. Baker Hostetler provided Government Contracts, Defense Security and International Trade advice to J.F. Lehman & Company. William Blair served as lead financial advisor to CTS, and Lincoln International served as co-advisor. Bartlit Beck provided legal counsel to CTS and the selling equityholders.
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Harvest Capital Credit to Merge Into Portman Ridge Finance
January 4, 2021Harvest Capital Credit Corp. entered into a definitive agreement to merge with and into Portman Ridge Finance Corp., a business development company managed by Sierra Crest Investment Management LLC. The transaction was unanimously approved by Harvest Capital's special committee and board as well as Portman Ridge's board. The parties expect the merger to be completed by the second quarter of 2021.
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BankProv Expands Small Business Lending Team with New Experienced Lenders
January 4, 2021BankProv, an innovative, commercial bank that finds solutions for business and private clients, has grown its small business lending team with two new hires: Joel Gianninoto, Vice President, Commercial Lending, and Ryan Fox, Assistant Vice President, Commercial Lending. Joel Gianninoto joined BankProv in March 2020 with almost 10 years of banking experience, having previously held positions at Citizens Financial Group and Salem Five Bank.
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NFI Group Announces Amendments to its Credit Facilities
January 4, 2021NFI Group Inc. ("NFI" or the "Company") today announced it has amended the Revolver and the UK Facility (together, the "Facilities"), providing meaningful covenant relief and additional flexibility, and cancelled the $250 million Sidecar. The Bank of Nova Scotia is the Administrative Agent for the Revolver and The Bank of Nova Scotia, BMO Capital Markets, and National Bank Financial Inc. are the Joint Bookrunners. The Revolver syndicate also includes The Canadian Imperial Bank of Commerce; Bank of America, Canada Branch; Wells Fargo Bank, N.A., Canadian Branch; The Toronto Dominion Bank; HSBC Bank Canada; MUFG Bank Ltd., Canada Branch; Export Development Canada and ICICI Bank Canada.
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Wolters Kluwer Enhances End-to-End User Experience for Latest PPP Funding Through TSoftPlus Software and eOriginal Platform
January 4, 2021In anticipation of the recently announced U.S. fiscal stimulus package, which provides $284.5 billion in additional Paycheck Protection Program (PPP) stimulus funding, Wolters Kluwer’s Compliance Solutions business has further enhanced its award-winning Paycheck Protection Program Supported by TSoftPlus™ software to expedite Small Business Administration (SBA) loan applications. Thanks to its recently announced acquisition of eOriginal, Wolters Kluwer Compliance Solutions is also able to offer a digital loan platform that enables compliance with SBA Appendix 8 mandates for digital loans.
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Chris Szopa Joins 36th Street Capital as Director of Capital Markets and In‐House Counsel
January 4, 202136th Street Capital Partners, LLC (“36th Street Capital”), an independent provider of equipment financing solutions, announced the appointment of Christopher Szopa as Director of Capital Markets and In-House Counsel.
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Celtic Capital Corporation Announces New Client Relationship
January 4, 2021Celtic Capital Corporation today announced its most recent new client relationship – a Colorado-based wood mill and veneer manufacturer. Referred by a bank from which we’ve taken out many clients, this deal came to Celtic Capital for financing to complete the build-out of its plant and to provide this year-and-a-half old company with working capital.
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Ashford Hospitality Trust Secures Commitment For $200 Million Corporate Financing With Ability To Upsize To $350 Million
January 4, 2021Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") today announced that the Company has secured a strategic financing commitment from funds managed by Oaktree Capital Management, L.P. ("Oaktree") to provide a $200 million senior secured term loan ("Loan"). In addition, the financing commitment can be upsized by $150 million to an aggregate amount of $350 million. RBC Capital Markets, LLC served as the Company's financial advisor on the transaction, and Weil, Gotshal & Manges LLP and Cadwalader, Wickersham & Taft LLP served as legal counsel.
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Sunflower Bank’s Leveraged Finance Team Provides Senior Debt Financing to Modus
January 4, 2021Sunflower Bank, N.A. is pleased to announce that its Leveraged Finance team served as joint lead srranger for a senior debt facility that was led by KeyBanc Capital Markets . The senior debt facility supported the acquisition of NextEdge Networks Holdings and its wholly-owned subsidiary, Modus (collectively “Modus”) by Bow River Capital. The transaction closed in August 2020.
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