TSL Express Daily Articles & News

Surmodics, Inc. (Nasdaq: SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today announced that it has entered into a new, five-year credit agreement with MidCap Financial (“MidCap”), comprised of up to $100 million in term loans and a $25 million revolving credit facility.

Working capital financing to support transitional growth is supported best by three core qualities: moving fast, thinking creatively and acting strategically. Gibraltar Business Capital (“GBC”) recently delivered on these qualities for 37th Street Bakery, a manufacturer of croissants, danishes and cinnamon rolls that serves grocery and foodservice channels.

Iron Horse Credit (“IHC”), a leading inventory lender, is pleased to announce the closing of a $1,250,000 stand-alone inventory revolving line of credit to luxury lifestyle home and garden accessories and decor retailer based in Ontario, Canada.

J D Factors announced it has provided the following factoring facilities: $500,000 to a transportation company in New Jersey; $75,000 to a transportation company in Florida; $100,000 to a transportation company in Alberta; $100,000 to a transportation company in Tennessee; $200,000 to a transportation company in New York.

Colleges and universities can better support their educational mission by being more strategic about their leased and owned real estate, advised the co-president of A&G Real Estate Partners in an Association of Governing Boards (AGB) podcast.

North Mill Equipment Finance LLC (“NMEF”) announced today the closing of its sixth commercial equipment backed securitization (ABS), NMEF Funding 2022-B (“NMEF 2022-B”). The $353MM transaction is North Mill’s 2nd ABS transaction this year, bringing the total privately placed bond proceeds raised this year to $724MM for the year.

United Capital Funding Group LLC, a Florida-based factoring firm completed 12 transactions totaling $10 million in accounts receivable financing in Q3 of 2022. The firm is a wholly owned subsidiary of Gulf Coast Bank & Trust Company, an FDIC-insured bank based in New Orleans, Louisiana.

Cabicash Solutions Inc, d/b/a Ualett, a Delaware-based online cash advance app targeted to the GIG community, has partnered with Thiele Capital Management to establish a $50M line of credit to continue expanding service for clients across the United States.

Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), announces it has entered into a debt financing facility (“debt facility”) providing the Company with access to up to $150 million from Oxford Finance LLC (“Oxford”). The non-dilutive capital provides further financial flexibility and support for commercialization activities for ensifentrine, the Company’s first-in-class product candidate, which recently reported positive Phase 3 data in the ENHANCE-2 trial in chronic obstructive pulmonary disease (“COPD”). The $150 million debt facility replaces the existing $30 million facility with Silicon Valley Bank (“SVB”).

Lumileds Holding B.V. (“Lumileds” or the “Company”), a global leader in innovative lighting solutions, announced today that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”). Lumileds plans to emerge from the chapter 11 process (“Chapter 11”) the week of October 31 following the satisfaction of certain administrative items before the Plan becomes effective.

Synovus Bank today announced additions to its leadership team in its expanding corporate & investment banking (CIB) line of business. These new leaders will strategically grow client relationships through deeper industry expertise and broader corporate finance and advisory capabilities.

Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today the closing of its previously announced $28.0 million term loan secured by two 2010-built Capesize vessels, M/V Fellowship and M/V Premiership, with a prominent European financing institution.

Forma Brands, the parent company of Morphe, Lipstick Queen, and Jaclyn Hill's Jaclyn Cosmetics, is considering Chapter 11 bankruptcy and has about $600 million to $700 million of debt, as reported by Reorg Research. People familiar with the process told BeautyMatter that the company was looking at various options to strengthen its financial position, stressing that a definitive direction has yet to be decided.

U.S. Bancorp (NYSE: USB) announced today that it has received all required U.S. regulatory approvals to complete the previously announced acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group (NYSE: MUFG), including approvals from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency.

WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced that Shari Kruzinski has been named Executive Vice President, Chief Consumer Banking Officer, reporting to Rodger Levenson, WSFS Chairman, President, and CEO. In her new role, she will oversee all aspects of the Consumer Banking division including Retail Delivery, Strategy, Consumer and Small Business banking and the Mortgage division. Kruzinski will assume the role following Rick Wright’s announcement that he will retire at the end of the year.

TD Bank, America’s Most Convenient Bank®, announced today that it provided a $18 million, tax-exempt loan to YMCA of Delaware for the construction of a new facility in Middletown. The loan was completed by Matthew Barnes, TD Bank Relationship Manager, and Lisa Kirkwood, Regional Vice President of Delaware, TD Bank.

Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announced that it has entered into an amended secured credit facility with JPMorgan Chase Bank, N.A. and a syndicate of banks, including $186.7 million in senior secured term loans and a $120 million unfunded revolving line of credit.

Astra, a leading provider of instant card-to-card funding as a service in the U.S., today announced a $10 million Series A funding round led by FPV Ventures, with participation from Slow Ventures and Allegis Capital, as well as a $30 million line of credit through CoVenture to support the company’s rapid expansion in the payments industry.

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $50 billion of equity capital under management, is pleased to announce the sale of its portfolio company Salary.com (the “Company”) to Accel-KKR. Terms of the transaction were not disclosed.

Capital One announced today that it has served as administrative agent for an amended and restated credit facility for EquipmentShare, a nationwide construction solutions provider. EquipmentShare will use the facility, which increased its borrowing capacity from $1.2 billion to $2.1 billion, to expand its footprint and finance further growth of the company. The revolver has a $1.0 billion accordion option.