- Dykema’s Chicago Office Adds Estate Planning Attorney Todd E. Wallace
- Trinity Capital Inc. Provides $35 Million in Growth Capital to Neuros Medical, Inc. to Scale Pain Management Therapy Adoption
- Arevon Closes $920 Million in Financing for its 1,200 Megawatt-Hour Nighthawk Energy Storage Project in California
- Baker Garrington and Liquid Capital Announce Recent Financings
- First Business Bank Promotes Kevin McGraw To Vice President - Asset-Based Lending
TSL Express Daily Articles & News
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CIT Serves as Lead Arranger of $88 Million Financing for Texas Battery Energy Storage System
CIT, a division of First Citizens Bank, today announced that its Power and Energy business arranged $88 million in financing for a 173-megawatt stand-alone merchant battery storage facility in Texas.
The borrower, Wolf Tank Storage, is an affiliate of Aypa Power Development, which develops, owns and operates numerous utility-scale energy storage and hybrid renewable energy projects that assist in the decarbonization of the electrical grid. Aypa Power is a portfolio company of Blackstone Inc.
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Robert Grbic is the president & CEO of White Oak Commercial Finance. Grbic has more than 30 years of commercial lending experience. He has been with the company and its predecessor since 2005, previously serving as senior executive vice president and chief credit officer where he was involved in creating a hands-on, best-practices credit culture, as well as helping the Company expand its client portfolio. Before that, Grbic was managing director at Morris Anderson & Associates Ltd., a turnaround-consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm, working primarily with small- and medium-sized companies. In addition, Grbic has also served at GMAC Commercial Credit, LLC, BNY Financial Corp and Bankers Trust.
TSL Express Daily Headlines & News
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Kura Oncology Announces Financing Transactions with Bristol Myers Squibb and Hercules Capital, Providing Access to up to $150 Million
November 4, 2022Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced a $25 million equity investment from Bristol Myers Squibb (NYSE: BMY) and a term loan facility with access to up to $125 million from Hercules Capital, Inc. (NYSE: HTGC).
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NextPoint Financial Secures $74.4M Term Loan From Existing Lender Group Led by Basepoint Capital
November 4, 2022NextPoint Financial Inc. (TSX: NPF.U) (OTC: NACQF) today announced the completion of an amendment to NextPoint's existing revolving credit facility with affiliates of Basepoint Capital, which provides for a new $74.4 million term loan to LT Holdco, LLC, a NextPoint subsidiary. Proceeds from the term loan will be drawn in two advances and will be used to pay down borrowings under an existing revolving credit facility and to provide additional working capital for NextPoint and its Liberty Tax business.
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Experienced SBA Business Development Officer Joins First Internet Bank
November 4, 2022First Internet Bank announced today that Ben Rosensweet has joined the organization as Vice President, Senior Business Development Officer. The newest member of the Small Business Administration (SBA) team brings a wealth of experience in finance and new business development, as well as equipment and commercial finance.
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Monroe Capital Closes $502.5 Million Collateralized Loan Obligation XIV
November 4, 2022Monroe Capital LLC (“Monroe”) today announced the closing of a $502.5 million term debt securitization known as Monroe Capital MML CLO XIV, LTD. The term financing was Monroe's second new CLO completed in 2022 and is secured by a portfolio of middle market senior secured loans.
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Lindsay & Brownell Combines with EisnerAmper
November 4, 2022Global business advisory firm EisnerAmper announced that the partners and colleagues of La Jolla, California-based accounting and advisory firm Lindsay & Brownell CPAs & Advisors ("LB Advisors") are to join EisnerAmper in a transaction expected to close in December of 2022.
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CIBC Innovation Banking Announces Growth Capital Facility for SupportLogic
November 4, 2022CIBC Innovation Banking is pleased to announce a growth capital facility for San Jose-based SupportLogic, Inc. (“SupportLogic”), a support experience (SX) platform designed to proactively improve customer experience and revenue retention.
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Tradecycle Capital Delivers a New Accounts Payable Finance Facility for a Furniture Wholesaler
November 4, 2022Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $4,000,000 revolving accounts payable funding facility for a private equity-owned wholesaler and distributor of home furnishings. Tradecycle was introduced to the company by a trusted advisor to assist with foreign sourcing of product.
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J D Factors Announces Factoring Facilities
November 4, 2022J D Factors announced it has provided the following factoring facilities: $300,000 to a staffing company in Quebec; $750,000 to a transportation company in California; $100,000 to a transportation company in Alberta; $500,000 to a transportation company in Illinois...
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Castlelake Closes Second Income Opportunities Fund with $782 Million
November 3, 2022Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 17 years of experience investing in asset-rich opportunities, today announced that it completed the final closing of Castlelake Income Opportunities II, L.P. ("CIO II" or the "Fund"), with approximately $782 million in capital commitments. CIO II, an asset-based private credit product, is the successor to Castlelake's 2018 vintage fund, which raised $456 million and closed in 2020.
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Moritt Hock & Hamroff Ranked In 2023 Edition Of U.S. News & World Report –Best Lawyers® Best Law Firms
November 3, 2022Moritt Hock & Hamroff has received national recognition in the 2023 "Best Law Firms," rankings by U.S. News & World Report and Best Lawyers®. The firm has been ranked as a Tier 1 in the 2023 U.S. News & World Report - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 4 practice areas.
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nFusion Capital Provides $2.5 Million Factoring Line of Credit to Educational Staffing Company
November 3, 2022Based in New York, this client provides educational staffing services to disabled and special needs children throughout the public school district. They are a fast-growing startup, providing individual services to over 300 students in more than 25 schools with special needs every year.
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CIT Leads Construction Financing for Major New Texas Solar Project
November 3, 2022CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger of construction financing for a major new solar energy project in Texas. Avantus (formerly 8minute) is the developer of the147-megawatt (MWdc) solar power facility now under construction in Concho County, Texas. The project, known as Galloway 2, is adjacent to the successful Galloway 1 solar project, which was built in 2020 with CIT-led construction financing.
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National Funding Hires Rob Rosenblatt as President of New Digital Lending Division
November 3, 2022National Funding is pleased to announce the hiring of Rob Rosenblatt as President of Business Loan Center LLC, National Funding’s new digital lending division. As a leader in providing financing for small- to mid-sized businesses (SMBs), National Funding is making a significant commitment to developing new digital and mobile-focused lending solutions for the segment.
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Star Mountain Capital Adds T. J. Della Pietra, Former Global Head of Citi Holdings, as a Senior Advisor
November 3, 2022Star Mountain Capital, a rapidly growing, employee-owned specialized private investment firm focused on the lower middle-market with over $3 billion of AUM, announced that T. J. Della Pietra, former Global Head of Citi Holdings, a division of $2+ trillion global commercial and investment bank Citigroup, has joined as a Senior Advisor.
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Briar Capital Real Estate Fund Announces Closing of $7.9MM Commercial Real Estate Loan
November 3, 2022Briar Capital Real Estate Fund is pleased to announce the closing of a $7.9MM commercial real estate loan to a precast concrete products company located in Florida who had been dealing with supply chain issues and material shortages as a result of COVID.
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InterNex Provides $1.2 Million Credit Facility to Advertising Agency
November 3, 2022InterNex Capital provided a $1.2 million revolving line of credit to a six-year-old marketing agency based in New York. The company sought greater flexibility and availability of working capital from a lending partner with knowledge of their industry.
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SFNet Submits Comment Letter to the NY State Department of Financial Services in Response to Latest Disclosure Regulations
November 3, 2022SFNet has submitted a comment letter addressing the latest round of proposed regulations. SFNet’s Advocacy Committee has been working with DFS on scope of the disclosure law and the proposed regulation since early 2021 and has previously provided detailed comments and suggested revisions to the initial draft regulations.
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Lumileds Successfully Completes Comprehensive Financial Restructuring and Announces Leadership Transition
November 2, 2022Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, has successfully completed its financial restructuring and emerged from Chapter 11, having reduced its funded debt by approximately $1.4 billion. With the restructuring transaction completed, Lumileds will be owned by a new group of long-term institutional investors, including Anchorage Capital Group, L.L.C., Nut Tree Capital Management, L.P., and Cerberus Capital Management, L.P.
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Helbiz Enters into an Equity Line of Credit Facility of up to $13.9 Million with Yorkville Advisors
November 2, 2022Helbiz, Inc. (NASDAQ: HLBZ) (“Helbiz” or the “Company”), a leader in micro-mobility and long-term rentals, today announced that it has entered into a $13.9 million common stock standby equity line purchase agreement (the “Agreement”) with Yorkville Advisors (the “Investor”).
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Acquisition Opportunity - Unified Commerce Artificial Intelligence Software Platform
November 2, 2022Hilco Streambank is offering for sale certain assets of Project Verte, which has developed cloud-based, AI-driven technology to automate and scale ecommerce operations. The bid deadline is November 28, 2022 and the auction will be held on November 30, 2022.
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