TSL Express Daily Articles & News

PNC Asset Management Group (AMG) has named Marc Dizard as its chief investment strategist. Dizard, who brings more than 15 years of experience to the Investment Office role, will oversee and drive the investment strategy and investment process vision for PNC AMG.

“This sale is a great opportunity for buyers in the trucking, hauling, or shipping industries to acquire high-quality commercial rolling stock that is ready for immediate use,” said John Coelho, Senior Director, Tiger Commercial & Industrial. “That is especially true given today’s high prices for new tractors and trailers and the high fuel and other operational costs in the industry.”

United Capital Funding Group LLC, a Florida-based factoring firm recently provided a $4.5 million facility to a Tennessee-based utility contractor. With this new flexible form of financing, the company was able to expand its presence in the Southeast and keep its long-time bank relationship and correlating credit line.

inacity Corporation, a White Oak Company, (“Finacity”) and DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main, New York Branch (“DZ BANK”) announce that they have successfully upsized a trade receivables securitization for Nitron Group LLC (“Nitron”), a company headquartered in Greenwich, CT. The facility is collateralized by Nitron’s receivables for fertilizer distribution and importation services in Latin America, North America, Europe, and Africa.

By order of the U.S. Bankruptcy Court, Western District of Tennessee, Western Division, SC&H Capital, a leading investment bank specializing in M&A advisory, has been retained as the exclusive investment banker to E-Box, LLC (“E-Box” or “the Company”) to seek a buyer of the Company (or its assets) that would allow operations to continue.

SurgePays, Inc. (Nasdaq: SURG) ("SurgePays" or the "Company"), a technology and telecommunications company focused on the underbanked and underserved, announced it has closed on a $25 million senior secured credit facility from Affordable Connectivity Financing V LLC (“ACF V”) – a wholly-owned subsidiary of Horizon Capital LLC and affiliate of ACP Finance. Approximately $15 million of financing was provided at closing.

Mid-Atlantic small businesses are optimistic in their ability to keep revenues at their current pace or even increase them in the next year despite economic woes and strains on their costs, a new WSFS Bank Small Business Trends study found.

ROK Financial, a leader in the alternative and commercial lending space announces the promotion of Shannon Treadwell to Chief Operating Officer. Treadwell will work alongside President Patrick Manning, overseeing the operations of the firm.

Biodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company with a focus in lung disease, today announced that it has obtained a term loan facility for up to $50 million from Perceptive Advisors, a leading healthcare investment firm focused on supporting progress in the life sciences industry by identifying opportunities and directing financial resources toward the most promising technologies in modern healthcare.

First Commonwealth Financial Corporation (NYSE: FCF) (“First Commonwealth”) today announced that it has received all regulatory approvals required to complete the previously announced merger of Centric Financial Corporation (“Centric”) with and into First Commonwealth and the merger of Centric Bank with and into First Commonwealth Bank.

First Foundation Inc. (NASDAQ: FFWM), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, today announced that Chief Executive Officer, Scott F. Kavanaugh, has been named President of First Foundation Inc. and First Foundation Bank, effective immediately.

FTI Consulting, Inc. (NYSE: FCN) today announced the launch of the firm’s Corporate Finance & Restructuring segment in Québec with the appointment of restructuring expert Martin Franco as a Senior Managing Director in Montréal. The addition of the Corporate Finance & Restructuring segment in Québec expands the firm’s existing capabilities in the market, which include forensic and litigation consulting services.

“We are committed to driving long-term shareholder value through our focused growth strategy. This amended and restated credit facility provides the capacity, pricing, and flexibility to support our growth and ongoing capital requirements,” said John D. Kelly, chief financial officer of Huron. “The ongoing commitment from Bank of America, JPMorgan Chase Bank, N.A., and PNC Bank, National Association, as well as our entire syndicate of lenders, reflects their confidence in Huron and our strategy.”

Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – 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 Summit Clinical Research, LLC by LongueVue Capital. Additionally, Abacus made an equity co-investment in Summit Clinical Research.

Stephen J. Brogan, Jones Day's Managing Partner since 2002, today announced that, effective January 1, 2023, Gregory M. Shumaker will become Jones Day's next Managing Partner, only the eighth Managing Partner in the Firm's 130-year history. Mr. Shumaker graduated from Brown University and the University of Notre Dame Law School, where he was Notes Editor of the Law Review. He has spent his entire career with the Firm in its Washington Office.

Finacity Corporation (“Finacity”), a White Oak Company, announced that it has successfully completed the facilitation of a new venture debt program for Immersive Group Gaming, Inc. (t/a Immersive Gamebox). The new facility provides funding for the rapidly expanding operator of innovative immersive gaming experiences across the US and EMEA. The first tranche discounted future receivables for an amount of USD 12.0 million.

Kroll has hired Brad Edwards, an experienced valuation professional, as a managing director in its valuation advisory services practice. Based in Houston, Edwards brings more than 20 years of experience valuing businesses, intangible assets, and equity securities. He specializes in the oil and gas industry, including companies in upstream, midstream, downstream, and oilfield services.

Cerebro Capital, a commercial loan marketplace, today announced it has received the Moxie Award for showing innovation and boldness at every phase of its growth strategy. From 140 finalists, Cerebro was recognized as the winner in the Financial Services category in the DC metropolitan area. Through a multi-step process, applicants were evaluated on innovation, growth, industry leadership, community service, and local achievements.

Santander Bank, N.A. today announced the expansion of its Commercial Equipment and Vehicle Finance business to include commercial equipment financing to healthcare organizations. The new, nationwide offering will provide financing for state-of-the-art medical technology and equipment to hospitals and health systems, out-patient clinics, and specialized providers.

Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced the successful completion of an amendment to its October 1, 2021 credit agreement with AvidBank, resulting in additional borrowing of $6 million and a commensurate distribution in cash to Kingsway.