- Mesabi Metallics Secures $150 Million from Macquarie Group
- Top California Lender Closes $7.8 Million in Acquisition Loans Across Denver and Austin
- Mattr Announces Closing of Credit Facility Extension
- Concord Serves as Exclusive Financial Advisor for $13.75MM in Senior Credit Facilities for a Higher Education Institution
- United Capital Funding Issues $15.45MM in Total Credit Facilities in Q1 2026
TSL Express Daily Articles & News
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Crown Partners Arranges $50 Million Senior Debt Facility for Inseego Corp.
Crown Partners LP announced that Inseego Corp. (“Inseego”), has closed on a $50 million senior debt facility with Siena Lending Group LLC. Crown Partners served as exclusive financial advisor to Inseego in connection with this transaction.
Headquartered in San Diego, CA Inseego (Nasdaq: INSG) is an industry leader in intelligent device-to-cloud solutions that extend the 5G network edge, enabling broader 5G coverage, multi-gigabit data speeds, low latency, and strong security to deliver highly reliable internet access.
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Part III: Confronting the Banking Dilemma for State-Licensed Marijuana Businesses in the United States
This article analyzes the conflict between federal and state marijuana laws, and its impact on the inability of state-legal marijuana businesses to obtain traditional and fundamental types of banking services from federally insured banks. The article is divided into three parts: (i) an explanation of the conflict of state and federal marijuana laws; (ii) the effect of the conflicting laws on the decision of banking institutions to provide services to state-licensed marijuana businesses; and (iii) congressional and judicial attempts to resolve the conflict between state and federal marijuana laws.
TSL Express Daily Headlines & News
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Horizon Technology Finance Provides Venture Loan Facility to Groundspeed Analytics
December 2, 2022Horizon 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 venture loan facility to Groundspeed Analytics, Inc. (“Groundspeed”).
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NexBank Capital, Inc. Promotes Rhett Miller to Chief Banking Officer
December 2, 2022Miller served as Chief Credit Officer since 2013 when he joined the company. In his new role, he will be responsible for the institutional and commercial banking divisions. Miller will retain oversight of the bank's credit related activities and continue to serve as a member of the Investment, Finance, Credit, and Enterprise Risk Management Committees.
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Newtek Receives Approval From the OCC to Acquire National Bank of New York City
December 2, 2022Upon the close of the Acquisition, NBNYC will be renamed Newtek BankTM, National Association (“Newtek Bank, N.A.”) and Newtek’s current portfolio companies Newtek Business Lending, LLC and Small Business Lending, LLC will be contributed to Newtek Bank, N.A.
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Park Hotels & Resorts Inc. Completes Upsize of Revolving Credit Facility to $950 Million and Extends Maturity to 2026
December 2, 2022The Company’s Credit Facility was jointly arranged by Wells Fargo Securities, LLC, BofA Securities, Inc., JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, and Truist Securities, Inc., with Wells Fargo Bank, N.A. acting as Administrative Agent, Wells Fargo Securities, LLC, BofA Securities, Inc. and JPMorgan Chase Bank, N.A. acting as Joint Bookrunners, and Bank of America, N.A. and JPMorgan Chase Bank, N.A. acting as Co-Syndication Agents. PNC Bank, National Association, Truist Bank, Morgan Stanley Senior Funding, Inc. and Goldman Sachs Bank USA, served as Co-Documentation Agents.
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New York Community Bancorp, Inc. Completes Acquisition of Flagstar Bancorp, Inc.
December 2, 2022New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company" or "NYCB") announced that its acquisition of Flagstar Bancorp, Inc. ("Flagstar" or "FBC") was completed earlier today, creating a regional banking franchise ranking among the top 25 banks in the country based on total assets. In accordance with the Agreement and Plan of Merger dated April 24, 2021, as amended on April 26, 2022 and October 27, 2022 by and among the Company, Flagstar, and 615 Corp. (the "Merger Agreement"), Flagstar merged with and into the Company and Flagstar Bank, FSB now operates as Flagstar Bank, N.A., with New York Community Bank having merged into Flagstar Bank, N.A.
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MUFG Announces Completion of the Sale of MUFG Union Bank to U.S. Bancorp
December 2, 2022On September 21, 2021, MUFG and MUFG Bank, a core banking subsidiary of MUFG, announced an agreement[1] to sell all shares of MUFG Union Bank, N.A. (“Union Bank”), MUFG’s subsidiary owned through MUFG Americas Holdings Corporation (“MUAH”), to U.S. Bancorp (“USB”).
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Tradecycle Capital Delivers Three New Accounts Payable Finance Facilities in November
December 2, 2022The first is a $3,000,000 limit to a private equity-backed market leader in commercial concrete construction. The second is a $3,500,000 limit to a fourth-generation family-owned designer, manufacturer, and distributor of a broad range of home storage products. The third is a $500,000 limit to a family-owned manufacturer of components for the RV industry.
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Mazars Acquires Boston-based Samet & Company PC
December 1, 2022Mazars, a leading audit, tax and advisory firm in the US, today announced it acquired Boston-based accounting firm Samet & Company PC. Following the acquisition, Mazars gained five partners, three managing directors and 65 new professionals.
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Triumph Bancorp Rebrands to Triumph Financial
December 1, 2022Triumph Bancorp, Inc. today announced the completion of an extensive rebranding effort, including a change of the company name to Triumph Financial, Inc. (the “Company” or “Triumph Financial”). Prior to the market open on Dec. 2, 2022, the Company’s common stock will begin trading on NASDAQ under the ticker symbol “TFIN.” This will replace the Company's current ticker symbol for its common stock “TBK,” which has been used since its initial public offering in November 2014.
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CIT Leads $135.6 Million Financing for Superior Biologics
December 1, 2022CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $135.6 million in financing for Superior Biologics Inc. Headquartered in Sharon Hill, Pennsylvania, Superior Biologics is a leading provider of specialty pharmacy and home infusion therapy services to patients contending with a wide variety of chronic illnesses.
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nFusion Capital Fuels the Growth of Lone Star Overnight
December 1, 2022Lone Star Overnight (LSO) is a regional last mile parcel delivery company based in Austin, Texas, successfully operating for more than 25 years. They combine the speed of a courier, the discipline of a carrier and the service of a true partner in a one-of-a-kind shipping model that enables them to offer customers their own personal rapid delivery system.
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FocalPoint Advises Atlantic Squared on its Acquisition of Metal Roofing Systems and Metal Roofing Systems & Supply
December 1, 2022Atlantic Squared Supply LLC (“Atlantic Squared”) has announced the successful acquisition of Metal Roofing Systems, LLC and Metal Roofing Systems & Supply, LLC (collectively, “MRS”) with financing provided by TCW Asset Management Company LLC (“TCW”) and PNC Bank, N.A., (“PNC”). FocalPoint ("FocalPoint"), a division of B. Riley Securities, Inc., served as co-advisor to Atlantic Squared on the transaction, along with Statesman Business Advisors.
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Dechert Announces New Global Leadership Team
December 1, 2022Global law firm Dechert has today announced that, effective July 1, 2023, partners David W. Forti and Mark E. Thierfelder will become Co-Chairs and that partners Sabina Comis and Vincent H. Cohen, Jr. will become the firm's first Global Managing Partners. The incoming leadership team will succeed Andy J. Levander, the firm's Chair since 2011, and Henry N. Nassau, the firm's CEO since 2016, when their leadership terms end on June 30, 2023.
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Nautilus, Inc. Completes Refinancing of Existing Term Loan, Enhancing its Liquidity Position and Increasing the Total Credit Facility to $130 Million
December 1, 2022Nautilus, Inc. (NYSE: NLS) (the “Company”) today announced the amendment of its existing credit facility by refinancing the previous term loan with a new $30 million term loan (“New Term Loan”), thereby increasing the Company’s total credit facility to $130 million. The credit facility previously consisted of a $100 million asset-based revolver and a $15 million term loan provided by Wells Fargo Bank, NA.
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Alvarez & Marsal Launches Mass Torts Practice, Naming Timothy Raab Managing Director and Practice Leader
December 1, 2022Leading global professional services firm Alvarez & Marsal (A&M) has launched a new Mass Torts offering, within its Disputes and Investigations practice, dedicated to helping litigants, companies, special masters, and parties in bankruptcy cases forecast and assess the economic impact of mass torts. Timothy Raab, based in Washington-DC, has been appointed Managing Director to head the new Mass Torts practice in North America for helping clients resolve cases ranging from product liability to toxic pollution and natural disasters.
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Sterling Announces New $700 Million Credit Facility and $100 Million Share Repurchase Program
December 1, 2022Sterling Check Corp. (NASDAQ: STER) (“Sterling” or “the Company”) today announced a $700 million refinancing of the Company’s credit facility and the authorization of a $100 million share repurchase program. KeyBanc Capital Markets Inc. led the refinancing transaction with Wells Fargo Securities, LLC, Citizens Bank N.A., and J.P. Morgan Chase Bank N.A. acting as Joint Lead Arrangers.
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Audax Private Debt Provides Financing to Support Odyssey Investment Partners’ Investment in Magna Legal Services
December 1, 2022Audax Private Debt (“Audax”) announced that, as Administrative Agent and Joint Lead Arranger, it provided a unitranche credit facility to support Odyssey Investment Partners’ (“Odyssey”) acquisition of Magna Legal Services (“Magna” or the “Company”). Headquartered in Philadelphia, Magna provides litigation support services to over 13,000 law firms, corporations, insurance carriers, and government agencies.
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Aspen Aerogels, Inc. Announces $100 Million Secured Loan Agreement with General Motors
November 30, 2022Aspen Aerogels, Inc. (NYSE: ASPN) ("Aspen" or the "Company"), a technology leader in sustainability and electrification solutions, today announced that its wholly-owned subsidiary, Aspen Aerogels Georgia LLC, together with the Company and Aspen Aerogels Rhode Island, LLC have entered into a definitive loan agreement with General Motors Holdings LLC ("GM"), an affiliate of General Motors (NYSE: GM), for a secured lending commitment of $100 million in connection with Aspen's construction and equipping of its second aerogel manufacturing facility in Statesboro, Georgia.
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Viemed Announces New Senior Secured Credit Facilities
November 30, 2022Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD and TSX:VMD.TO), a national leader in respiratory care and technology-enabled home medical equipment services, announced that it has entered into new syndicated credit facilities, consisting of a five-year senior secured revolving credit facility of up to $30 million and a five-year delayed draw term loan facility of up to $30 million, which may be borrowed in multiple drawdowns.
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Eyenovia Announces $15 Million Credit Facility with Avenue Venture Debt Fund
November 30, 2022Eyenovia, Inc. (NASDAQ: EYEN), a pre-commercial ophthalmic technology company developing the Optejet® delivery system for use both in combination with its own drug-device therapeutic programs for mydriasis, presbyopia and pediatric progressive myopia as well as out-licensing for additional indications, today announced that the company has entered into a $15 million credit facility with the Avenue Venture Opportunities Fund, L.P. (“Avenue Venture Debt Fund” or “Avenue”).
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