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Yieldstreet Closes $400 Million Credit Facility with Monroe Capital to Expand Investor Access to Private Markets
Yieldstreet, the world’s largest direct-to-consumer online platform for investing in private markets, today announced the closing of a warehouse facility that provides access to up to $400 million from Monroe Capital LLC. This financing is the largest of its kind to date for Yieldstreet and for any alternative investment platform in the industry and enables the company to scale in the coming years.

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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

  • Triumph Bancorp Rebrands to Triumph Financial
    December 1, 2022
    Triumph 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.
  • CIT Leads $135.6 Million Financing for Superior Biologics
    December 1, 2022
    CIT, 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.
  • nFusion Capital Fuels the Growth of Lone Star Overnight
    December 1, 2022
    Lone 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.
  • FocalPoint Advises Atlantic Squared on its Acquisition of Metal Roofing Systems and Metal Roofing Systems & Supply
    December 1, 2022
    Atlantic 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.
  • Dechert Announces New Global Leadership Team
    December 1, 2022
    Global 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.
  • Nautilus, Inc. Completes Refinancing of Existing Term Loan, Enhancing its Liquidity Position and Increasing the Total Credit Facility to $130 Million
    December 1, 2022
    Nautilus, 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.
  • Alvarez & Marsal Launches Mass Torts Practice, Naming Timothy Raab Managing Director and Practice Leader
    December 1, 2022
    Leading 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.
  • Sterling Announces New $700 Million Credit Facility and $100 Million Share Repurchase Program
    December 1, 2022
    Sterling 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.
  • Audax Private Debt Provides Financing to Support Odyssey Investment Partners’ Investment in Magna Legal Services
    December 1, 2022
    Audax 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.
  • Aspen Aerogels, Inc. Announces $100 Million Secured Loan Agreement with General Motors
    November 30, 2022
    Aspen 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.
  • Viemed Announces New Senior Secured Credit Facilities
    November 30, 2022
    Viemed 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.
  • Eyenovia Announces $15 Million Credit Facility with Avenue Venture Debt Fund
    November 30, 2022
    Eyenovia, 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”).
  • Brightwood Capital Advisors Leads Senior Secured Credit Facility to Support Beringer Capital’s Investment in VeraData
    November 30, 2022
    Brightwood Capital Advisors (“Brightwood”), a middle market private credit firm, today announced that it acted as sole lead arranger and administrative agent for a senior secured credit facility in support of Beringer Capital’s investment in VeraData (“the Company”), a decision science company that leverages next generation analytics and omni-channel data to optimize direct marketing campaign results.
  • Viva Capital Funding Closes $85.0 Million in Bank Credit Facilities
    November 30, 2022
    Viva Capital Funding, LLC (“Viva”), a leading invoice factoring specialty finance company, today announced the closing of $85.0 million in two bank credit facilities; consisting of $45.0 million for factoring and $40.0 million for land banking. This transaction follows a successful $18.5 million investment-grade rated corporate note financing completed by the Company in June 2022.
  • HYPERAMS Announces Upcoming Auction of Gerke Excavating, Inc. Assets
    November 30, 2022
    HYPERAMS, LLC announced the December 15, 2022 live virtual online auction of surplus assets owned by Gerke Excavating, a leading provider of excavation, site grading, gravel crushing, and trucking services in western Wisconsin. The assets are located in Onalaska, Wisconsin and will be available for auction preview and inspection prior to the auction date on December 13 and 14 by appointment only. Event details can be viewed at https://www.hyperams.com/yellow-iron-auction-december-2022.
  • TD Bank Invests $5 Million in Citizens Trust Bank, a Minority-owned Financial Institution Serving the Atlanta Region for Over 100 Years
    November 30, 2022
    The Commercial Bank of TD Bank, America’s Most Convenient Bank®, announced today that it has made a $5 million equity investment in Citizens Trust Bank in Atlanta, Ga., to help expand opportunities for minority-owned businesses as it eyes further expansion into the region.
  • TAB Bank Provides Commercial Truck Parts Distributor in Texas with a $5 Million Asset-Based Credit Facility
    November 30, 2022
    TAB Bank is pleased to announce it has provided a commercial truck parts distributor in Texas with a $5 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
  • Sallyport Tailors $2.5 Million Finance for Food and Beverage Manufacturer
    November 30, 2022
    Sallyport is thrilled to announce a tailored finance package of $2,500,000 for a family-owned manufacturer of powdered coffees, cappuccino mixes and other specialty drinks. The funding comprises accounts receivable and inventory finance and a cash flow loan which will enable the client to cover their operational expenses as they expand the business both at home and abroad.
  • Runway Growth Finance Corp. Commences Offering of Notes
    November 30, 2022
    Oppenheimer & Co. Inc., UBS Securities LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers of this offering. Compass Point Research & Trading, LLC, Janney Montgomery Scott LLC and Hovde Group, LLC are acting as co-managers of this offering.
  • PRA Group Announces Refinancing of European Revolving Credit Facility
    November 29, 2022
    PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that on November 23, 2022, it completed the refinancing of its $750 million European revolving credit facility.

 

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