TSL Express Daily Articles & News

Pinnacle Bank (OTCQB: PBNK), headquartered in Gilroy, CA, announced today that Michael Khan has joined the bank as Executive Vice President, Senior Lending Officer.

Canada's Ritchie Bros Auctioneers Inc (RBA.TO), which sells heavy industrial equipment, on Monday agreed to buy U.S.-based vehicle marketplace IAA Inc (IAA.N) in a deal valued at about $7.3 billion, including debt. The cash-and-stock deal, which includes about $1 billion of debt, will allow Ritchie to tap into a growing market for heavy machinery and equipment, salvaged cars, trucks and motorcycles, as well as auto parts.

-Acrisure, LLC (the “Company”) announced today that it has closed a senior secured incremental term loan facility in an aggregate principal amount of $1 billion (the “incremental term loans”). The incremental term loans will constitute a new tranche of term loans under the Company’s existing credit agreement, among Acrisure Intermediate, Inc., a Delaware corporation and direct parent company of the Company, the Company, the guarantors party thereto from time to time, the lenders party thereto from time to time, and JPMorgan Chase Bank. N.A., as administrative agent.

White Oak Merchant Partners, LLC, (“WOMP” or “the firm”), a FINRA registered broker-dealer affiliated with White Oak Global Advisors (“WOGA”), today announced that the firm worked closely with Syco Entertainment Ltd (“Syco”), the media production company of television personality, producer and record executive Simon Cowell, on a $125 million ABS transaction.

Avtech Capital, LLC today announced the completion of a new $75 Million revolving credit facility with Capital One, N.A. The facility will provide additional liquidity to support the Company's growth and further its efforts to better serve customers.

The bank syndicate supporting the credit facility is comprised of four participants acting in various capacities, with JPMorgan Chase Bank, N.A. as Administrative Agent, Manufacturers and Traders Trust Company, Bank United, N.A., and Atlantic Union Bank.

Solifi™, a global fintech software partner for secured finance, announced its Solifi Asset-Based Lending (ABL) software-as-a-service (SaaS) solution on its open finance platform now supports more than $1B in loans outstanding for lenders globally. Additionally, Solifi’s ABL borrower portal user traffic increased by 4x in less than a year as lenders and borrowers recognize the benefits of Solifi’s easy-to-use, self-service tool that’s available 24/7.

Cerebro Capital, a technology-enabled debt sourcing marketplace for companies in the middle market, recently facilitated the closing of $60MM in debt financings to several companies including $15 million asset-based line of credit for a supplier of sustainably sourced, high quality wood pellets to support their significant growth and $14.5 million USDA loan to an owner operator of a large portfolio of gas stations and convenience stores .

GenSight Biologics (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible) (the "Company"), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today announced that it has entered into a €35 million credit facility agreement with the European Investment Bank (“EIB”), supported by the European Fund for Strategic Investment (EFSI).

Kura 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).

NextPoint 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.

First 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.

Monroe 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.

Global 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.

CIBC 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.

Tradecycle 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.

J 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...

Castlelake, 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.

Moritt 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.

Based 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.