TSL Express Daily Articles & News

Oxford Finance LLC (“Oxford”), a leading specialty finance firm providing senior debt to healthcare services and life sciences companies worldwide, is pleased to announce that Kevin Harbour has joined Oxford’s healthcare services real estate and asset-based lending team.

Phoenix Management Services®, a leading provider of operationally focused solutions, is pleased to announce the appointment of Steven Rosenblum and Steven Warsaw as Managing Directors of the firm’s investment banking affiliate, Phoenix Capital Resources®.

IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) is pleased to announce new credit facilities (the “Credit Facilities”) of up to US$8,000,000 established pursuant to (a) a credit and security agreement (the “Credit Agreement”) among Iron Horse Credit, LLC and certain of the Company’s U.S. subsidiaries (the “Subsidiaries”) and (b) an account sale and purchase agreement (the “ASPA”) among Sallyport Commercial Finance, LLC and the Subsidiaries.

GBG USA Inc., an indirect wholly-owned subsidiary of Global Brands Group Holding Limited (the “Group”), today announced that the North America wholesale business and certain subsidiaries and affiliates (together “GBG USA”) have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York (the “Court”).

Oxford Finance LLC (“Oxford”), a leading specialty finance firm providing senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $28 million senior credit facility to AvantGarde Senior Living (“AvantGarde” or “the Company”), A Luxurious Senior Living Community™.

Celtic Capital Corporation today announced its most recent new client relationship–a Washington-based cutter/packer of meat products for restaurants and food service companies.

Stonebriar Commercial Finance (“Stonebriar” or the “Company”), a leading large-ticket independent diversified commercial finance and leasing company, today announced that it has extended its $1 billion revolving warehouse credit facility (the “Facility”) for another two years. The Facility, which serves as one of Stonebriar’s primary working capital facilities, was originally closed in 2018 and is agented by Bank of America. Other lenders include Credit Suisse, Citizens Bank, Fifth Third Bank, Security Benefit Life and Mitsubishi UFJ Financial Group (“MUFG”), a new participant in the facility.

4D pharma plc (AIM: DDDD, NASDAQ: LBPS), a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs), a novel class of drug derived from the microbiome, today announces the closing of a senior secured credit facility for up to $30m with Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies.

Christopher J. Murphy III, Chairman and CEO of 1st Source Corporation announces the Board of Directors’ promotion of Mr. Brett Bauer to Chief Financial Officer and Treasurer of 1st Source Corporation and 1st Source Bank with responsibility for Accounting, Finance, Asset Liability Management, Treasury Management and Investor Relations; and that of Mr. John Bedient to Chief Operations Officer of 1st Source Bank overseeing a new Operations Group combining both deposit and loan operations.

Leslie A. Berkoff, a Partner and Chair of the Dispute Resolution practice group in the Garden City office of Moritt Hock & Hamroff, has been recently appointed to the American Arbitration Association (AAA) – International Centre for Dispute Resolution (ICDR) Council and to the AAA-ICDR International Panel.

Monroe Capital LLC today announced Chris Babick has joined the firm’s originations team as Managing Director. Chris will lead the firm’s relationship sourcing and the origination of new business opportunities within the Southeast region.

Hemisphere Energy Corporation ("Hemisphere" or the "Company") is pleased to announce that it has entered into a new extendible two year committed term facility with ATB Financial (the "Lender"), providing for borrowings of up to $35,000,000 (the "Credit Facility"). As part of entering into the Credit Facility, the Company has fully repaid and terminated its existing term loan with Cibolo Energy Partners (the "Former Term Loan").

TriCo Bancshares (NASDAQ: TCBK, “TriCo”), the parent company for Tri Counties Bank, and Valley Republic Bancorp (OTCQX: VLLX, “Valley”), the parent company for Valley Republic Bank, today announced they have entered into a definitive agreement under which Valley will merge with and into TriCo in a stock transaction valued at approximately $165.6 million, or $38.15 per share, based on TriCo’s stock price of $40.16 on July 26, 2021.

CVB Financial Corp. (Nasdaq: CVBF) and Suncrest Bank (OTCQX: SBKK) announced today that they have entered into an agreement and plan of reorganization and merger (the “Agreement”), pursuant to which Suncrest will merge with and into Citizens in a stock and cash transaction valued at approximately $204 million in aggregate or $16.18 per Suncrest share, based on CVB Financial Corp.’s closing stock price of $19.36 on July 26, 2021. Piper Sandler & Co. served as financial advisor and Manatt, Phelps & Phillips, LLP served as legal counsel to CVB Financial Corp. MJC Partners, LLC served as financial advisor and Sheppard, Mullin, Richter & Hampton served as legal counsel to Suncrest.

Siena Lending Group continues to be a leader in the asset-based lending industry, consistently finding creative ways to offer our clients maximum flexibility and liquidity. Siena Lending Group is proud to provide this overview of the financing solutions that Siena and its Siena Healthcare Finance division delivered in Q2 2021.

CIT Group Inc. (NYSE: CIT) today announced the appointment of Kevin Ronan as national sales director for the Capital Equipment Finance business. Ronan, who was also promoted to senior vice president, will be based in New York and will oversee business development within Capital Equipment Finance for both the direct and indirect sales channels.

The Canadian law firm Fasken topped benchmark league tables for Mergers and Acquisitions (M&A) and capital markets in H1 of this year, reflecting the firm’s continued success in achieving clients’ objectives. Bloomberg, Refinitiv, MergerMarket, and the Financial Post all ranked Fasken among the leading advisors in several key M&A categories in H1:

Big Shoulders Capital just provided $800,000 in funding to help Beal Manufacturing emerge out of bankruptcy. As a result of this reorganization, 49 jobs in Gastonia, NC will be saved.

Cerberus Capital Management has agreed to buy Lighthouse Autism Center from Abry Partners for a reported value of more than $400 million, according to PE Hub. In reporting the news, the publication cited four sources with knowledge of the deal, which it said is nearing completion. Based near South Bend, Indiana, Lighthouse provides center-based applied behavioral analysis (ABA) therapy to children ages 2 to 18 out of more than 20 centers across Indiana and Michigan.

Some 90 days after switching its legacy enterprise ecommerce platform to a new Commerce as a Service (CaaS) approach from Nogin, tween online retailer Justice is realizing strong improvements in profitable topline growth. Justice (a Bluestar Alliance brand) moved its $250 million online store to Tustin-based Nogin to optimize performance, in part by gaining access to the platform’s leading-edge AI, predictive analytics, and R&D.