TSL Express Daily Articles & News

Amerisource Business Capital announced the closing and funding of a $3,000,000 senior credit facility for a Florida based clothing apparel manufacturer. The proceeds were used to support ongoing working capital needs.

FaZe Clan Inc. ("FaZe Clan" or the "Company") today announced it has entered into a definitive merger agreement (the "Merger Agreement") to combine with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) ("BRPM"), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley Financial"). The proposed business combination transaction (the "Business Combination") implies an equity value of approximately $1 billion for the combined company inclusive of nearly $275 million of cash (assuming no redemptions).

Gateway Casinos & Entertainment Limited (“Gateway” or “the Company”) today announced that it has closed a US$1.25 billion Senior Secured Term Loan B issuance to refinance its capital structure and fund cash to the balance sheet. Funds managed by affiliates of Fortress Investment Group LLC ("Fortress") were lead investors in the transaction. Morgan Stanley Senior Funding, Inc. served as Sole Lead Bookrunner. Fortress Credit Corp. and Morgan Stanley Senior Funding, Inc. served as Joint Lead Arrangers.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team provided a revolving line of credit to Noreast Outdoorz, LLC, an outdoor sporting and recreational equipment supplier based in Pocasset, Massachusetts. With a strong presence in the Northeast, Noreast Outdoorz is solely focused on designing high-quality products for outdoor activities.

Levitee Labs Inc. (CSE: LVT) (OTCMKTS: LVTTF) (FSE: 7H7) (the "Company" or "Levitee”), an integrative wellness company with a diversified portfolio of healthcare and wellness assets, is pleased to report that it has entered into a financing agreement for up to $12 million for further business expansion. The secured loan facility (the “Loan”) was arranged by RiverFort Global Capital Ltd. (a UK firm) and the Loan is from RiverFort Global Opportunities PCC Ltd. (“RiverFort” or the "Lender").

Audax Private Debt announced that, as Joint Lead Arranger and Bookrunner, it provided a unitranche credit facility to support the acquisition of Genesee Scientific (“Genesee” or the “Company”) by LLR Partners, a Philadelphia-based private equity firm focused on investing in middle-market technology, healthcare, and services businesses.

Stride Funding Inc. secured $30 million of low-cost education financing from Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, to fund the high-growth asset class of outcomes-driven funding products. The warehouse credit facility will be used to fund upskilling programs for graduates of SV Academy, the premier skills and employment platform for jobseekers transitioning into technology sales and customer success careers.

Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a $180 million senior secured term loan with a premier low-cost producer of quality sand to the Permian Basin. This facility represents Stonebriar’s fifth closed transaction with the borrower and its affiliates. The loan proceeds were used to refinance existing indebtedness and for general corporate purposes.

Hilco Redevelopment Partners (HRP), an operating company within Hilco Global, has announced a new brand and identity for the former PES refinery in South Philadelphia. The 1,300-acre South Philadelphia property will now be called The Bellwether District thebellwetherdistrict.com. The Bellwether District will become an economic engine for the city of Philadelphia, driving change and inclusive growth by bringing thousands of jobs through future tenants in life sciences, e-commerce, and logistics.

Accel Entertainment, Inc. (NYSE: ACEL) (“Accel”), a leading distributed gaming operator in the U.S., today announced that it has amended its existing senior secured credit facility (“Amended Credit Facility”) to increase its borrowing capacity from $438 million to $900 million with a new five year term. The Amended Credit Facility consists of a $150 million Revolving Credit Facility, a $350 million Term Loan A and a $400 million Delayed Draw Term Loan.

Huntington Business Credit announced it closed a new $10,000,000 credit facility with Mid America Freight Logistics, LLC on October 1, 2021. Proceeds of the facility were used to refinance existing indebtedness and to provide ongoing working capital growth financing.

During the Chapter 11 process, Kirkland & Ellis LLP served as legal counsel to the Company, and Alvarez & Marsal North America, LLC served as restructuring advisor. Guggenheim Securities, LLC served as the Company’s investment banker. Davis Polk & Wardwell LLP served as legal counsel and Evercore Group L.L.C. served as investment banker and financial advisor to SVPGlobal. Wachtell, Lipton, Rosen & Katz served as legal counsel and PJT Partners LP served as investment banker for an ad hoc group of consenting creditors.

Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced that it has entered into definitive documentation in respect of a US$100 million Senior Secured Credit Facility (the “Acquisition Facility”) from a portfolio company of SunStream Bancorp Inc. (“Sunstream”), a joint venture sponsored by Sundial Growers Inc.

White Oak Global Advisors, LLC (“White Oak”), announced it provided a $80 million term loan supporting the refinancing of one of the largest non-ferrous and ferrous metals recyclers in the US. The structure, which also includes an $80 million asset-based credit facility, provides the company with a more efficient capital structure and increases its borrowing capacity as commodity prices increase.

Winston & Strawn represented Jefferies and BofA Securities as placement agents on the PIPE in connection with Live Oak Acquisition Corp. II’s (NYSE: LOKB) business combination with Navitas Semiconductor ("Navitas") (NASDAQ: NVTS), an industry leader in GaN power ICs, business combination with. Navitas' common shares and warrants began trading on Wednesday, October 20, 2021 on the Nasdaq Global Market under the ticker symbols "NVTS" and "NVTSW".

Amalgamated Bank (“Amalgamated”), a wholly-owned subsidiary of Amalgamated Financial (the “Company”) (Nasdaq: AMAL) today announced that Ivan Frishberg has been named Senior Vice President and Chief Sustainability Officer, and will be part of Bank Leadership effective October 22, 2021.

Maranon Capital, L.P. (“Maranon”) announced today the addition of five members to the firm’s investment and portfolio teams. Christian Jacobs (“CJ”) has joined the firm’s investment team as an Analyst and Daniel Figliulo, Quinn Gaughan, Gregory Hulse and Jacqueline Trujillo joined the portfolio team as Portfolio Analysts.

Amerisource Business Capital announced the closing and funding of a $4,000,000 senior credit facility for a nurse staffing firm based in Tennessee. The proceeds were used to fund working capital and continued growth.

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today the formation of Ares Wealth Management Solutions (“WMS”). WMS will oversee the product development, distribution, marketing and client management activities across Ares’ investment offerings in the global wealth management channel. With a team of more than 90 fundraising and client service professionals, WMS will comprise one of the largest fundraising and client service teams dedicated to the wealth management channel in the alternatives industry.

J D Factors announced it provided the following factoring facilities: $150,000 to a transportation company in Alberta; $120,000 to a transportation company in Illinois; $100,000 to a transportation company in Alberta; $150,000 to a transportation company in British Columbia...