TSL Express Daily Articles & News

Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it led a $15 million venture loan facility to Branded Online, Inc. (dba "Nogin"), of which Horizon funded $5 million of the initial $10 million draw, and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, funded $5 million.

The PNC Financial Services Group, Inc. (NYSE: PNC) announced today it is committing $20 billion over five years in support of environmental finance. This commitment is an extension of PNC's long-standing support for accelerating the transition to a low-carbon economy, and is complementary to the bank's recently announced Community Benefits Plan, which pledges $88 billion in loans, investments, and other financial support to bolster economic opportunity for low- and moderate-income (LMI) individuals and communities, people and communities of color, and other underserved individuals and communities.

TIP, a portfolio company of I Squared Capital, has successfully amended and extended its existing Revolving Credit Facility (RCF) and additionally raised funding to strengthen the business. The existing Revolving Credit Facility (RCF) was increased from €1,150.5 million to €1,196.75 million with no change in pricing or structure and extends the maturity by 2 years. Rabobank and ABN AMRO acted as joint coordinators and physical book runners to TIP and I Squared Capital on the transaction.

Better Choice Company Inc. (NYSE: BTTR) (the “Company” or “Better Choice”), an animal health and wellness company, today announced it has increased its term-loan credit facility capacity from $6.0m to $7.5m with its current lender, Wintrust, a leading commercial bank headquartered in Chicago, Illinois.

Floyd Medical Center (“Floyd” or the “Company”), a leading provider of healthcare services in northwest Georgia and northeast Alabama, has completed a membership substitution and strategic combination with Atrium Health. Floyd provides patient care at 62 locations and is anchored by the flagship 304-bed Floyd Medical Center, an acute care hospital and regional referral center in Rome, Georgia.

Avadim Health, Inc., a healthcare and wellness provider, today announced it has completed the court-approved sale of substantially all its assets to a newly-created company owned by funds managed by Hayfin Capital Management (Hayfin) following a Chapter 11 process. The new company (the Company) will continue to operate under the Avadim name. The transaction places the Avadim business on a secure long-term footing and positions the Company for future growth.

Webster Financial Corporation (NYSE: WBS) (“Webster”) and Sterling Bancorp (NYSE: STL) (“Sterling”) jointly announced that each company’s stockholders have approved the proposed merger between Webster and Sterling at their respective special meetings of stockholders held today.

Seacoast Business Funding is pleased to announce the addition of Stacey Huddleston as Vice President, Business Development Officer. Mr. Huddleston is based in the Midwest and will focus on expanding the Seacoast portfolio in the region. He brings over twenty years of expertise in the financial and alternative lending space providing creative solutions for businesses with complex financial needs.

MUFG, one of the world's leading financial groups, today announced that Brian Gunn will join the company as Chief Risk Officer for MUFG Americas Holdings Corporation and its primary banking subsidiary, MUFG Union Bank, N.A., effective September 13, 2021. Mr. Gunn succeeds Donna Dellosso, who announced her decision to retire in May of this year.

Truist Financial Corporation (NYSE: TFC) today announced its new executive leadership structure, effective Sept. 1. President and Chief Operating Officer William H. Rogers Jr. will succeed Kelly S. King as chief executive officer on Sept. 12, 2021, as previously announced in February 2019 as part of the merger of equals that formed Truist. King will transition to the role of executive chairman of the board of directors of Truist Financial Corporation effective through March 12, 2022.

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $34,350,000 in ABL/factoring financial solutions for 23 new clients; Crestmark Equipment Finance provided $22,208,198 in 12 new transactions; Crestmark Vendor Finance provided $9,029,229 in 84 new transactions; and the Government Guaranteed Lending group provided $17,624,500 in financing for five new clients in July.

As previously announced on April 5, 2021 and May 14, 2021, Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the "Company" or "Lendified") is pleased to announce that the Company's wholly-owned subsidiary, incorporated as a special purpose vehicle for the purpose of funding new loans under the Credit Facility (the "SPV"), has entered into a definitive two year credit agreement (the "Credit Agreement") with Windsor Private Capital Limited Partnership and Evergreen Gap Debt GP Inc. (together, the "Lenders") for a non-revolving, secured term loan in the aggregate amount of up to $10,000,000.00 (the "Credit Facility").

Avianca Holdings has announced that its board of directors approved the filing of its restructuring plan at the Bankruptcy Court for the Southern District of New York in the United States on August 10.

Jones Day served as M&A legal and debt counsel to Pacific Avenue. Weil, Gotshal & Manges LLP is serving as counsel for the continuation fund. Piper Sandler & Co. and Stephens Inc. advised on the private debt financing. UBS Investment Bank acted as the exclusive placement agent for the equity financing. Pacific Avenue will act as the general partner of the single asset vehicle.

Lampert acted as the affiliate's financial advisor on the transaction and placed a complete $295 Million financing package for the transaction, including a Revolver/First Lien/ Delayed Draw Term Loan with BMO serving as the Administrative Agent, Lead Left Arranger and Joint Bookrunner and J.P. Morgan Chase, as Lead Right Arranger and Joint Bookrunner , a Second Lien provided by funds and accounts managed by BlackRock and a Structured Equity Investment provided by Turning Rock Partners.

Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a patient-centric gene therapy company focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system in both rare and large patient populations, today announced that it has entered into a loan and security agreement with Silicon Valley Bank (SVB) that provides Taysha with up to $100 million of borrowing capacity.

LSQ, the largest independent provider of invoice financing in the U.S., announced the addition of Bill Kirth to the team. Kirth joins LSQ from Euler Hermes technology partner, APiO, where he served as Director and Chief Credit Office.

Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Orttech, Inc. on its majority recapitalization by Main Street Capital Corporation (NYSE: MAIN). Headquartered in Solon, OH, Orttech is a leading value-added distributor delivering mission-critical torque control products to a diverse range of industrial power transmission end markets.

In its latest sale for a prominent North American production rental company, Tiger Group will be staging a timed online auction on August 24 for over 200 lots of professional grade digital cameras, lenses, projectors, memory and other gear accessories from a prominent North American production rental company.

Wilmington Trust, a leader in corporate and institutional trust services, today announced the addition of three senior relationship managers within the CLO and Loan Administration Division – Henry Brigham, Willis Hwang and David Knecht. The team will be based in the company's Costa Mesa, California office and will report to the Head of CLO & Loan Administration, Richard Britt.