- Vireo Growth Inc. Announces Financing for New York and Florida Cultivation Facility
- SG Credit and Wingspire Expand Skylight Credit Facility to $75 Million
- Mountain Ridge Capital Promotes Dylan Walter to VP, Originations
- Vox Royalty Expands Revolving Credit Facility Up to $150 Million and Strengthens Leadership Team
- Second Avenue Capital Partners Provides $8 Million Revolving Credit Facility to IT'SUGAR
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Solifi™, a global fintech software partner for secured finance, announced that Mithu Bhargava joined the company as its first president. In this newly created position on the Solifi executive team, Bhargava brings more than 20 years of operational leadership to drive the delivery of scalable, sustainable, high-performing software-as-a-service (SaaS) products for the secured finance industry.
TSL Express Trending Story
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Lenders are faced with difficult circumstances when a borrower’s business and the bank’s collateral is deteriorating. The downward spiral often includes declining or negative earnings, insufficient cash flow, declining enterprise value, escalating trade debt and “tripped” financial covenants. Further, management has not been able to reverse these negative trends and worse, have likely not been able to forecast these problems before they were reported. This will certainly erode trust between a borrower and their banker. When a lender is primarily concerned with protecting its collateral in a deteriorating situation, measuring alternative options can be considered relative to control, time, exposure and cost.
TSL Express Daily Headlines & News
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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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Live Online Webcast Auction Features Cranes, Boom Trucks and Other Former Assets of Texas-Based Heavy Equipment Rental Company
November 2, 2022Buyers can acquire heavy-duty cranes, boom trucks, trailers and other former assets of Dalton Crane in a Thursday, November 10 live, online webcast auction by Tiger Group and GA Global Partners.
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Blank Rome Welcomes Financial Regulations and Compliance Pro as Consumer Finance Partner in Washington, D.C.
November 2, 2022Blank Rome LLP is pleased to announce that R. Colgate Selden has joined the firm’s Washington, D.C., office as a partner in the Financial Institutions Litigation & Regulatory Compliance (“FILARC”) practice group. At Blank Rome, Colgate will advise clients on federal and state laws regulating consumer and mortgage lending. Colgate joins Blank Rome from Promontory MortgagePath LLC, a company founded by a former comptroller of the currency and provider of digital mortgage and fulfillment solutions, where he served as managing director and head of regulatory legal, compliance, and risk.
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Lendbuzz Secures $150 Million Credit Facility From J.P. Morgan
November 2, 2022Lendbuzz, a fintech company that is disrupting the car financing market using AI and machine learning algorithms, announced today that it closed a $150 million credit facility with J.P. Morgan. This is the second credit facility between the investment bank and the financial technology company in 2022 (in January, J.P. Morgan extended a line of credit to Lendbuzz), and in April 2022, J.P. Morgan served as an underwriter on a broadly syndicated ABS transaction.
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Joseph Malfitano Joins Gordon Brothers as Senior Managing Director
November 2, 2022Joseph Malfitano has joined Gordon Brothers, the global advisory, restructuring and investment firm, as Senior Managing Director on the firm’s transaction team supporting retail, commercial and industrial, and real estate in North America.
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J.P. Morgan Launches New Life Sciences Private Capital Team Targeting Investments in Innovative Healthcare Companies
November 2, 2022-- J.P. Morgan Asset Management today announced the launch of a new life sciences private equity team, Life Sciences Private Capital. The new team will invest in both early and growth stage healthcare companies across multiple strategies aligned to specific market opportunities, with a focus on novel therapeutics and technologies in several target areas including Genetic Medicine, Oncology, Neurodegenerative Disease, Rare Diseases, Autoimmunity, AI/ML platforms, Metabolic Diseases and Neuropsychology.
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Culain Capital Adds Mark J. Simshauser as Northeast Senior Vice President
November 2, 2022Culain Capital is very pleased to announce that Mark J. Simshauser has joined our team as the Northeast Senior Vice President responsible for building and driving business development throughout the region. Mr. Simshauser has over 23 years of middle market direct lending experience with his career beginning in 1999 at FINOVA Capital, where he developed financing opportunities across the country for multiple financing groups of the parent company.
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William J. Mayer Joins Tiger Group as an Executive Managing Director
November 1, 2022William (Bill) J. Mayer, a senior finance industry executive responsible for generating billions of dollars in growth during his 33 years at Wells Fargo and GE Capital, has joined Tiger Group as Executive Managing Director. He will focus on business development for the asset-valuation, disposition and finance firm.
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Access Capital Provides a $5 Million Credit Facility To Alumni Staffing
November 1, 2022Founded in 2016, Alumni Staffing LLC (“Alumni”) is based in New Jersey and focused on providing temporary physician services (locum tenens) to healthcare facilities nationwide. Alumni has consistently posted year-over-year growth since inception and is currently on pace to achieve record-high revenues and profits for 2022. Alumni desired a more robust credit facility to sustain this growth trajectory and maximize financial flexibility.
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Jones Day Names 6 New Partners in Financial Markets Practice
November 1, 2022“The promotion of these new partners reflects Jones Day’s ongoing commitment to developing and advancing lawyers throughout the world who have achieved the highest level of professional accomplishment and who are devoted to advancing and protecting the interests of our clients and the institutional values of the Firm,” said Stephen J. Brogan, Managing Partner of Jones Day.
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Men's and Women's Heritage Apparel & Accessories Brand Acquisition Opportunity
November 1, 2022The brand is known for expertly bringing the classic American aesthetic forward with contemporary pieces across multiple product categories and styles, including men’s and women’s crew pants, shorts, henleys, sweaters and knitwear, outerwear, polos, rugby shirts, flannels, wearable accessories, bags, shoes, eyewear, and more.
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LSQ Provides $12 Million in Funding for Medical Staffing Firm Supporting Hurricane Ian Relief
November 1, 2022When a critical-response organization mobilizes to provide support to communities impacted by a natural disaster, having the funds to make payroll and operate effectively should not be a concern. To help Jacksonville, Florida-based Critical Response Strategies, LLC (CRS) focus on the important work of providing medical staff to assist in the Hurricane Ian relief effort, LSQ recently originated a $12 million accounts receivable finance facility to provide funding for operations and payroll.
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Great Rock Capital Closes $20MM Term Loan Facility
November 1, 2022Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that it has provided $20 million of liquidity through a senior secured term loan facility to support a leading gas compression service provider located in Texas.
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Citizens Arranges Debt Financing for a $142.5 Million Loan to Redbrick LMD
November 1, 2022Redbrick LMD has secured a $142.5 million loan to finance the construction of The Douglass, a 750-unit residential building at the Bridge District that includes approximately 40,000 square feet of retail and 80 affordable units. The Bridge District is a sustainable, wellness-focused neighborhood that will bring new options for living, dining, and entertainment, as well as jobs and growth opportunities for local businesses and community members in Ward 8. Citizens Bank arranged the debt financing for the project.
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