TSL Express Daily Articles & News

Yieldstreet Private Business Credit entered year two in a tremendous fashion. In 3Q 2021, YS PBC closed a total of $115 million in new deals across both consumer and commercial asset classes within various positions of the capital structure.

The Interface Financial Group (“IFG”) announced the funding of a $21,000,000 digital supply chain finance for suppliers of retail and automotive buyers. The early payments provided by IFG help suppliers in the US, South Asia and Europe to navigate through a challenging time of supply chain disruptions caused by the Covid-19 epidemic.

Bidding is underway in the timed online auction of more than 300,000 feet of line pipe formerly owned by Fort Morgan, Colorado-based Catamount Oilfield Services, announced Tiger Group and Liquidity Services (NASDAQ: LQDT). The auction is the latest offering by the two companies, which in 2016 formed a strategic partnership—Tiger Liquidity Services Energy Partners—focused on directly assisting those seeking to sell surplus oil-and-gas assets.

VFP Pharmacy Group ("Village", "VFP", or the "Company"), a portfolio company of BelHealth Investment Partners, LLC ("BelHealth"), a healthcare private equity firm based in Fort Lauderdale, Florida, announced the completion of a financing from ORIX Corporation USA's Growth Capital team. VFP has established itself as one of the leading fertility pharmacies in the country and is dedicated to servicing patients, providers, and payors in this market.

Leading global professional services firm Alvarez & Marsal (A&M) has substantially expanded its Healthcare Industry Group’s Technology Advisory and Transformation Services led by newly appointed Managing Director, Christopher Smith and Senior Directors Philip Handal and JoyAnn Book. These hires demonstrate A&M’s commitment to solving healthcare organizations’ complex problems with “big bet” digital and technology transformation initiatives.

The company manufactures and distributes certified kosher ravioli, gnocchi, pizza, desserts, ice cream, and other food products made in Italy. This client was brought in by Hedaya Capital’s new business development officer Irwin “I.D.” Dayan; who comes to Hedaya with 15 years’ experience serving as the executive director of Exceed Network, a premier community-based business advisory and assistance organization. Now at Hedaya Capital, Irwin is assisting rapidly growing companies with factoring and financing solutions.

The trade credit insurance ecosystem loses over a billion dollars annually due to process inefficiencies, lack of transparency, and human error. InBlock Digital Policy Management leverages blockchain technology, AI, and machine learning, allowing market participants to reduce risk, increase efficiency, and scale through automation.

The acquisition is subject to customary closing conditions, including regulatory approvals and approval by TriState Capital shareholders, and is expected to close in 2022. Advisors to Raymond James are Raymond James & Associates as financial advisor and Sullivan & Cromwell LLP as legal counsel. Advisors to TriState Capital are Stephens Inc. as financial advisor and Mayer Brown LLP as legal counsel.

Gerber Finance, an eCapital company and the leading finance partner for companies experiencing accelerated growth, today announced the closing of a $8MM line of credit to Humm Kombucha, maker of probiotic kombucha drinks.

Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS) a fintech lender servicing the alternative auto finance market, announced a $15 million strategic investment (the "Offering") by NowLake Technology, LLC ("NowLake"), the fintech parent company of Westlake Technology Holdings and Nowcom Corporation.

Locus Biosciences, Inc. (“Locus”), a clinical-stage biotechnology company developing a new class of precision engineered bacteriophage treatments for a diverse set of bacterial and inflammatory diseases, today announced that the company has entered a credit facility of up to $25 million with Hercules Capital, Inc. (NYSE: HTGC), a specialty financing lender for life science and technology companies.

Winston & Strawn represented Founder SPAC (NASDAQ: FOUNU) (the “Company”) in its initial public offering of 31,625,000 units, including 4,125,000 units issued pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit. The units are listed on The Nasdaq Stock Market LLC (“Nasdaq”) and began trading under the ticker symbol “FOUNU” on October 15, 2021.

Winston & Strawn represented Experity Ventures LLC, as sponsor, and TVEST 2021A, LLC, as issuer, in connection with a $38,850,000 144A securitization of litigation funding receivables and medical receivables.

Miami-based fintech Marco, fueled by its recent financing round in mid-July, is generating significant growth. Marco’s $11.5MM dollar deal with MV Communications Group (MV), a company based in Doral, Florida, was just the cherry on top of a hugely successful quarter. An international electronics & accessories distributor, MV has clients throughout the U.S. and Latin America, and needed capital for continued growth. The credit line Marco provided is forecasted to expand quickly based on the business foreseen in the short term.

The client was referred to Sallyport via its partner in the banking industry. They were experiencing accelerated growth and with long payment cycles, this caused some cash flow issues which saw them looking for a finance partner to help them make their payroll, invest into new areas and be able to compete for bigger contracts. The client will now use the funds to pay suppliers, meet payroll and make capital investments which will fuel their growth across states and enable them to take on the larger contracts that they weren't able to previously.

Synergy One Lending, Inc., based in San Diego, CA, announced it has completed a $50 million corporate note financing with a consortium of institutional investors. The company intends to accelerate its investment in the growth of its distributed retail and consumer direct channels, technology and partnership development, as well as its servicing portfolio.

Global law firm Greenberg Traurig, LLP has expanded its award-winning Corporate Practice with the addition of Tamara Rizkalla as a shareholder in the Washington, D.C. office. Rizkalla joins the firm from McGuireWoods. Rizkalla will focus her practice on health care industry transactions, regulatory, and compliance matters.

Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the recapitalization of Health Network One (“HNO”) by private equity sponsor, H.I.G. Capital, LLC.

Bank of America today announced its current portfolio of loans, deposits and investments to Community Development Financial Institutions (CDFIs) now exceeds $2 billion. This includes approximately $100 million in deposits to minority depository institutions (MDIs) and investments of nearly $36 million of equity in 21 MDIs as part of the company's recent commitment of up to $50 million.

Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced the closing of a 144a privately-placed term asset-backed security (ABS) transaction. The $319,395,000 financing was placed with a broad group of fixed income investors, representing 24 unique institutions. JP Morgan Securities LLC served as Structuring Agent and Lead Bookrunner for the placement.