TSL Express Daily Articles & News

J D Factors announced it has provided the following factoring facilities: $75,000 to a transportation company in Ontario; $250,000 to a transportation company in New Jersey; $490,000 to a transportation company in Texas; $300,000 to a transportation company in Ontario; $50,000 to a transportation company in Oklahoma...

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a recent $3.2 million factoring facility with purchase order financing to support an outdoor and sporting apparel company.

Laura Martone has rejoined Haynes and Boone, LLP as partner in the firm’s New York office. Her practice focuses on finance transactions, including oil and gas finance, renewable energy, commodity finance and trading, and real estate lending.

NN, Inc. (NASDAQ: NNBR), a diversified industrial company, today announced an amendment to its 5.5-year $150 million term loan with funds managed by Oaktree Capital Management, L.P. (“Oaktree”). The amendment increases the maximum total leverage ratio covenants for all quarters of 2022 and 2023.

M&T Bank Corporation (NYSE: MTB) ("M&T") announced today receipt of regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced acquisition of People's United Financial, Inc. (NASDAQ: PBCT) ("People's United"). The transaction has also received approval from both the New York State Department of Financial Services and the Connecticut Department of Banking. No further regulatory approvals are required.

U.S. Well Services, Inc. (NASDAQ: USWS) ("USWS" or the "Company") today announced it has entered into an amendment to its Senior Secured Term Loan Credit Agreement ("Term Loan Agreement") allowing the Company to borrow last-out term loans (the "Term C Loans"). The Company also provided an update on recent commercial activity.

AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced it has expanded its senior credit facilities with three different borrowers: Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) (“Verano”), a leading multi-state operator with active operations in 12 states, including 12 production facilities; Devi Holdings Inc., doing business as Nature’s Medicines (“Nature’s Medicines”), a multi-state operator headquartered in Phoenix, Arizona; and Natrabis LLC (“Natrabis”), doing business as SocietyC, is a premium cannabis producer that operates a state-of-the-art 50,000 square foot indoor cultivation and processing facility in Lake Orion, Michigan

Financial disclosure bills, similar to those passed into law in NY and CA, have been proposed in a few more states. SFNet will keep you apprised of developments. See below for links to each bill.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce their portfolio company, Leaf Home™ is expanding their product offering. Leaf Home™, a leading technology-enabled provider of home solutions, has completed its acquisition of Tundraland Home Improvement. Headquartered in Kaukauna, Wisconsin, and serving the entire state, the company provides home upgrades that include baths, decks, and cabinet refacing.

Buyerlink, a leading online marketplace for performance-based marketing, today announced the securement of a $63 million credit facility led by JPMorgan Chase. A One Planet Group company, Buyerlink is actively seeking targeted acquisition opportunities, specifically those in the cost-per-lead, cost-per-click, and cost-per-call performance-based marketing space. The money secured from the credit facility will be used as capital for future M&A opportunities.

WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced that Christine E. Davis has been named Executive Vice President, Chief Risk Officer (CRO), reporting to Rodger Levenson, WSFS Chairman, President and CEO. In her new role, she will lead all risk management functions including credit administration, credit risk management, enterprise risk management, real estate services, asset recovery, legal, internal audit, loan review and regulatory compliance.

CIBC Innovation Banking is pleased to announce the lead arrangement of a $150 million syndicated debt financing for New York-based VTS, a leading provider of commercial real estate software. VTS will use the capital to accelerate investments in its strategic product road map, M&A, and global market expansion.

Sharestates, a leading real estate technology platform designed to support and accelerate the redevelopment of residential housing, recently closed a new $100 Million warehouse line of credit led by funds managed by the Credit Group of Ares Management Corporation ("Ares") to capitalize on demand from borrowers. This additional warehouse capital complements existing credit facilities and increases the Company's overall borrowing capacity to better support the Company's growing loan origination volume.

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business served as sole lead arranger on a $39.6 million loan to an affiliate of Clarion Partners to finance the acquisition and development of Southside Logistics Center, an industrial facility in Baltimore, Maryland.

Grasshopper, the client-first digital business bank, today announced the relaunch of its digital banking platform to meet the shifting demands of small businesses and innovators across the country. With needs unmet by the traditional banking system, small businesses are eager to find services and technology that will help them grow. Grasshopper has the capabilities to help these businesses exceed their potential and is set to lead in the innovation economy by building tools specifically designed for small businesses, startups and the venture community.

Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq: DGHI; TSXV: DGHI), an innovative U.S. based Bitcoin self-mining company, is pleased to announce the closing of a US$10,000,000 committed, collateralized revolving credit facility with Securitize, Inc. (the “Loan Facility”). The Loan Facility provides Digihost with significant, non-dilutive, liquidity options to assist in the financing of its aggressive growth strategy. The Loan Facility has a one-year committed term and an interest rate of 7.5% per annum and has been fully drawn by the Company.

Fifth Third Bancorp (NASDAQ: FITB) today announced that Kala Gibson, executive vice president and chief corporate responsibility officer, has assumed additional oversight of sustainability and inclusion and diversity, and he will serve as the chair of the Fifth Third Foundation distribution committee.

Leading global professional services firm Alvarez & Marsal (A&M) has further expanded and enhanced its digital transformation offerings by adding Frederic Ramioulle, a Detroit-based, 30-year industry veteran, as a Managing Director with the firm’s Automotive & Industrials Group.

Marco Capital Inc. is pleased to announce several new recent financing transactions, including: a $10,000,000 facility for a Canadian distributor of Covid testing kits; a $2,700,000 facility for a consumer home electronics business located in Hong Kong and California; a $3,000,000 facility for a Hong Kong and China based designer and distribution shoe business.

The client, an automation component distributor, came to Accord with plans for both domestic and export sales as well as quick growth projections. Accord was able to quickly add an EDC TRG loan of $250,000 to their $1,000,000 factoring facility, which was a great fit for the client’s needs.