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Citizens Leads $1.2 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
Citizens announced today that it has provided financing to San Francisco-based PRO Unlimited Global Solutions Inc.
Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.
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Winston & Strawn Represents Alkuri Global Acquisition Corp.
October 27, 2021Winston & Strawn represented Alkuri Global Acquisition Corp. (NASDAQ: KURI, KURIU and KURIW) ("Alkuri"), a special purpose acquisition company, in connection with its business combination with Babylon Holdings Limited ("Babylon"), one of the world's fastest-growing digital healthcare companies.
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Hedgeweek Names CohnReznick Best Audit Firm in 2021 Americas Awards
October 27, 2021CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that, for the second year in a row, Hedgeweek has recognized CohnReznick as Best Audit Firm in its 2021 Americas Awards program. Hedgeweek is a major global publication covering hedge fund industry news for investors and fund managers.
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BizCap Secures $8 Million in Debt Financing to Support AlterG’s Growth
October 26, 2021BizCap® (Business Capital since 2002), a national commercial finance and advisory firm, today announced it has successfully structured and secured $8 million in growth financing for its repeat client, AlterG, the creator of the Anti-Gravity Treadmill. This financing will be used to pay-off existing debt with the remaining proceeds available to accelerate growth initiatives and working capital purposes, including new product development and expansion into new markets, as well as broadened adoption in rehabilitation and elite athletics.
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Rosenthal Closes $2.75 Million Asset Based Lending Deal With Midwest-Based Coatings Provider
October 26, 2021Rosenthal & Rosenthal, Inc., a leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $2 million revolving credit facility and $750,000 term loan to support the working capital needs of an Ohio-based finishing and coatings company serving the automotive, appliance and electrical industries.
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RH Announces Completion of $2 Billion Debt Financing
October 26, 2021RH (NYSE: RH) today announced the completion of a $2 billion debt financing (the “Term Loan”) by means of a Term Loan Credit Agreement through its subsidiary, Restoration Hardware, Inc. (“RHI”), as the borrower, Bank of America, N.A. as administrative agent and collateral agent, and the various lenders party thereto (the “Term Loan Credit Agreement”). The Term Loan has a maturity date of October 20, 2028 and a floating interest rate based on 2.5% spread over LIBOR subject to a 0.50% LIBOR floor.
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Gerber Finance Supports Fair Harbor’s Exponential Growth with $7MM Line of Credit
October 26, 2021Gerber Finance, an eCapital company and the leading finance partner for companies experiencing accelerated growth, today announced the closing of a $7MM line of credit to Fair Harbor, maker of sustainable swimwear, clothing, and accessories. The deal was completed under its Naturally Gerber division, which works with companies within the fast-growing natural products space, from clean label, organic and non-GMO products, to sustainable design and packaging.
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Hudson Avenue Partners Advises United Safety, a Dubin Clark Portfolio Company, on its Acquisition of Fireboy-Xintex
October 26, 2021Hudson Avenue Partners is pleased to announce that United Safety & Survivability Corporation, a Dubin Clark portfolio investment, has raised financing to support its acquisition of Fireboy-Xintex from W.S. Darley & Company. Hudson Avenue Partners acted as exclusive financial advisor to Dubin Clark and United Safety in arranging financing to support the acquisition and future growth capital needs of the company.
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SG Credit Provides $1.5 Million Growth Capital Facility to Channel Partner Management SaaS Platform
October 26, 2021SG Credit announced it provided a $1.5 million growth capital facility to a leader in channel management automation for enterprises selling through channel partners. The Company was seeking capital for product development, to expand its team, and to execute on growth opportunities in its pipeline.
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HV Bancorp, Inc. Appoints Robert J. “Bob” Marino President
October 26, 2021HV Bancorp, Inc., the parent company of Huntingdon Valley Bank, announced that Vice-Chairman Robert J. ‘Bob’ Marino has been appointed President of HV Bancorp, Inc., and its subsidiary, Huntingdon Valley Bank (HVB). Mr. Marino will join an executive team of accomplished bankers and help guide the next phase of Huntingdon Valley Bank’s explosive growth. HVB continues its work toward being the premiere community bank in the greater Philadelphia area.
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Winston & Strawn Represents Chart Industries, Inc.
October 26, 2021Winston & Strawn represented Chart Industries, Inc. (the “Company”), as a Borrower, in connection with a $1,000,000,000 revolving credit facility with JPMorgan Chase Bank, N.A., to refinance its existing revolving credit facility and repay its existing term loan.
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Exagen Inc. Announces $27.2 Million Debt Refinancing
October 26, 2021Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, announced today that it entered into an amendment to its loan and security agreement with its primary lender, an affiliate of Innovatus Capital Partners, LLC (“Innovatus”). The amended agreement provides a $27.2 million, 5-year term loan at 8.0% interest, of which 2.0% is paid in-kind in the form of additional term loans.
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Pathlight Capital Provides $100 Million Last-out Investment to S.P. Richards Company
October 26, 2021Pathlight Capital LP and S.P. Richards Company ("S.P. Richards" or the "Company") have completed a $100 million Last-out transaction (the "Last-out") as part of a Wells Fargo led $275 million Senior Secured Revolving Credit Facility (the "Facility"). S.P. Richards is a leading national business products wholesaler that distributes furniture, technology, facility breakroom, and other office products.
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Monroe Capital Supports The CM Group’s Acquisition of decile.ten communications
October 26, 2021Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of decile.ten communications (“d10”) by The CM Group, LLC, an existing portfolio company of NaviMed Capital.
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Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
October 26, 2021The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for September was $9.2 billion, up 6 percent year-over-year from new business volume in September 2020. Volume was up 8 percent month-to-month from $9.9 billion in August. Year-to-date, cumulative new business volume was up 10 percent compared to 2020.
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CohnReznick Named Best Accounting Firm in Private Equity Wire US Awards
October 26, 2021CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it has been recognized by Private Equity Wire as Best Accounting Firm in the publication’s 2021 US Awards program. Award winners were announced during an awards ceremony and networking event held at The University Club in Manhattan.
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Amerisource Closes $3,000,000 Credit Facility for Manufacturing Firm
October 26, 2021Amerisource Business Capital announced the closing and funding of a $3,000,000 senior credit facility for a Florida based clothing apparel manufacturer. The proceeds were used to support ongoing working capital needs.
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Faze Clan, A Leading Gaming, Lifestyle and Media Platform, To Become A Publicly Listed Company Through Merger With B. Riley Principal 150 Merger Corp. (Nasdaq: Brpm)
October 26, 2021FaZe Clan Inc. ("FaZe Clan" or the "Company") today announced it has entered into a definitive merger agreement (the "Merger Agreement") to combine with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) ("BRPM"), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley Financial"). The proposed business combination transaction (the "Business Combination") implies an equity value of approximately $1 billion for the combined company inclusive of nearly $275 million of cash (assuming no redemptions).
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Gateway Casinos & Entertainment Limited Completes Refinancing of Corporate Debt in $1.25 Billion Transaction
October 25, 2021Gateway Casinos & Entertainment Limited (“Gateway” or “the Company”) today announced that it has closed a US$1.25 billion Senior Secured Term Loan B issuance to refinance its capital structure and fund cash to the balance sheet. Funds managed by affiliates of Fortress Investment Group LLC ("Fortress") were lead investors in the transaction. Morgan Stanley Senior Funding, Inc. served as Sole Lead Bookrunner. Fortress Credit Corp. and Morgan Stanley Senior Funding, Inc. served as Joint Lead Arrangers.
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Cambridge Savings Bank Fuels Growth for Noreast Outdoorz with Revolving Line of Credit
October 25, 2021Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team provided a revolving line of credit to Noreast Outdoorz, LLC, an outdoor sporting and recreational equipment supplier based in Pocasset, Massachusetts. With a strong presence in the Northeast, Noreast Outdoorz is solely focused on designing high-quality products for outdoor activities.
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Levitee Labs Enters into Credit Facility For Up To $12 Million
October 25, 2021Levitee Labs Inc. (CSE: LVT) (OTCMKTS: LVTTF) (FSE: 7H7) (the "Company" or "Levitee”), an integrative wellness company with a diversified portfolio of healthcare and wellness assets, is pleased to report that it has entered into a financing agreement for up to $12 million for further business expansion. The secured loan facility (the “Loan”) was arranged by RiverFort Global Capital Ltd. (a UK firm) and the Loan is from RiverFort Global Opportunities PCC Ltd. (“RiverFort” or the "Lender").
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