TSL Express Daily Articles & News

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $5.3 million in lending to support the transition of ownership of Formaggio Kitchen, a regional chain of gourmet food stores specializing in cheese, to longtime employee Julia Hallman. After working for Formaggio Kitchen for 15 years as a senior buyer and general manager, Hallman successfully purchased the franchise in January 2023.

EagleBank, one of the largest community banks in the Washington, D.C. area, today announced it has provided $25,000,000 in construction financing to The Community Builders (TCB) and Dantes Partners for a 142-unit “100% affordable” multifamily project located at 610 Park Road, NW, Washington, DC – part of the larger Park Morton and Bruce Monroe redevelopment plan to transform a 174-unit public housing property into a mixed-income community of nearly 500 units.

The Lion Electric Company (NYSE: LEV) (TSX: LEV) ("Lion" or the "Company"), a leading manufacturer of all-electric medium- and heavy-duty vehicles, today announced that the Company has entered into an agreement with Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, and its related company, ENGS Commercial Finance Co, to provide financing solutions to Lion school bus and truck customers in the United States and Canada through LionCapital Solutions' vehicle financing program.

Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, today announced an amendment to its existing $650 million credit facility that links borrowing costs to progress in achieving certain annual sustainability goals.

Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it executed an amendment to the Company’s term loans on February 9, 2023 (the “Term Loan Amendment") which the parties anticipate will close on February 14, 2023. The Term Loan Amendment, among other things, extends the maturity date to April 2025 with an option to extend to April 2026, subject to certain prepayment and other terms and conditions.

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Sole Lender for senior secured credit facilities to support the leveraged buyout of Sabai Group, LLC by Thompson Street Capital Partners. Additionally, Abacus made an equity co-investment in Sabai Group, LLC.

TD Bank Group ("TD") (TSX: TD) and (NYSE: TD) and First Horizon Corporation ("First Horizon") (NYSE: FHN) today announced that they have mutually agreed to extend the outside date of their proposed transaction from February 27 to May 27, 2023, in accordance with the terms of the merger agreement.

Mark Podgainy has been named the Commercial Real Estate and Hospitality Practice Leader of Getzler Henrich & Associates LLC, one of the nation's oldest and respected middle-market corporate restructurings and operations improvement firms.

Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan commitment of $50 million to Madison Reed, a digitally enabled omni-channel prestige hair color company predominantly focused on women.

-Bridge Bank today announced the addition of Nam Nguyen as vice president and relationship manager in the Corporate Banking Group. Nguyen will be based in Bridge Bank’s East Bay Loan Production office, located in Pleasanton, California. He will be responsible for managing loan and financing activity for a broad portfolio of complex middle-market companies.

remier Brands Group (the "Company") today announced that it has successfully completed a refinancing and upsizing of its asset-based revolving credit facility and amendment and extension of its term loan credit facility. The refinancing increased capacity under the Company's asset-based credit facility to $255 million and provided Premier Brands Group with approximately $50 million of incremental liquidity, and has a maturity in 2026.

Converge Technology Solutions Corp. ("Converge" or "the Company") (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF) a services-led, software-enabled IT & Cloud Solutions provider, is pleased to announce it has increased its $500 million global revolving credit facility (the "Global Credit Facility") to $600 million under its accordion feature on its existing credit terms. J.P. Morgan and Canadian Imperial Bank of Commerce are joint lead arrangers, with the Bank of Nova Scotia, the Toronto-Dominion Bank, and the Bank of Montreal participating in the lender group.

Schulte Roth & Zabel (SRZ) represented Voce Capital Management in its investment in Argo Group International Holdings, Ltd., an underwriter of specialty insurance products, which announced on February 8, 2023 that it has entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire the company in an all-cash transaction valued at approximately $1.1 billion.

B. Riley Securities, Inc., a leading middle market investment bank, is pleased to have served as the sole book-running manager for Akoustis Technologies, Inc. (Nasdaq: AKTS) in connection with its successful underwritten offering of common stock which resulted in gross proceeds of approximately $34.5 million to Akoustis.

Silicon Valley Bank, the bank of the world’s most innovative companies and investors, today announced that Ashraf Hebela has been named the new Head of Technology & Healthcare Banking for North America. He succeeds Dave Sabow who SVB recently named as CEO of Silicon Valley Bank UK and Head of EMEA, pending regulatory approval. The company also announced that Lewis Hower will step up to lead Startup Banking.

Global law firm Greenberg Traurig, LLP expanded its Corporate and Financial Regulatory & Compliance practices with the addition of Hilary R. Sledge-Sarnor as a shareholder in the firm’s Los Angeles office. She joins from MUFG Bank, Ltd. and its former wholly-owned subsidiary, MUFG Union Bank, N.A., where she served as executive counsel to the general counsel.

Star Mountain Capital, LLC ("Star Mountain"), a rapidly growing specialized investment company with approximately $3.5 billion in assets under management focused exclusively on investing in established, private small and medium-sized North American businesses (the “lower middle-market”), is pleased to announce that George Mattson has joined as President.

Bowlero Corp., the world’s largest owner and operator of bowling centers, announced today that the Company successfully closed $900 million term loan B due February 8, 2028 in a net-leverage-neutral transaction. J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC, and Deutsche Bank Securities Inc. served as deal managers to Bowlero in connection with the transaction. Davis Polk & Wardwell LLP acted as legal advisor to Bowlero.

Amerisource Business Capital announced the closing and funding of a $3,000,000 asset-based revolver for a Texas-based specialty pumping services firm. The proceeds were used to support the company’s growth.

B. Riley Securities, Inc., a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as sole bookrunner on a successful underwritten public offering of Bed Bath & Beyond Inc. (Nasdaq: BBBY) Series A convertible preferred stock and warrants.