TSL Express Daily Articles & News

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.

Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) and Investors Bancorp, Inc. (NASDAQ: ISBC) (“Investors”) announced today that they have entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash.

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $45 billion of equity capital under management, announced today the sale of its portfolio company, US Medical Supply (“US MED” or the “Company”), to Advanced Diabetes Supply (“ADS”), a portfolio company of Court Square Capital Partners Inc. Terms of the transaction were not disclosed. Houlihan Lokey served as financial advisor to US MED on the transaction.

GoodData, the leader in Data as a Service (DaaS) analytics infrastructure, today announced the closing of a $45 million credit facility from J.P. Morgan. Building on the company’s recent adoption momentum and the release of the GoodData Cloud Native platform (GoodData.CN), GoodData will use this new financing to grow its global sales and engineering teams while continuing to invest in building solutions for modern, enterprise-grade analytics.

BHI, a full-service commercial bank, announced that it has appointed Vicki Andreadis as general counsel. With a legal career that spans nearly twenty years, Andreadis has spent the past decade in senior legal positions with financial services firms.

M&T Bank Corporation (NYSE: MTB) ("M&T") and People's United Financial, Inc. (NASDAQ: PBCT) ("People's United") today issued an update on their pending merger to create a diversified, community-focused banking franchise. Last week, M&T issued Worker Adjustment and Retraining Notification (WARN) in two states, Connecticut and Vermont. The majority of the reductions would be effective in 2022.

TM Capital served as exclusive financial advisor to Big Blanket Co and Husch Blackwell represented the Company as legal counsel. Altacrest was represented by McGuireWoods and BakerTilly. Please contact Brien Davis, Tim Laczkowski, or Rick Sukkar to discuss this transaction or other investment opportunities.

FocalPoint Partners served as the exclusive financial advisor and Pillsbury Winthrop Shaw Pittman served as legal counsel to People’s Care.

SG Credit provided a cash flow term loan for an entrepreneur-owned specialty delivery service catering primarily to the medical industry.

LiquidX, the global fintech solutions provider for working capital, trade finance, and insurance, today announced the appointment of Keith Raymond as Managing Director, InBlock Sales. Mr. Raymond will lead the commercial expansion of LiquidX’s ground-breaking InBlock digital working capital platform. The cloud-based InBlock platform uses leading technology to automate and optimize working capital management, providing CFOs with the opportunity to reduce the cost of their accounts receivable and accounts payable, improve the cash conversion cycle, and reduce fraud risk.

Anvil Channel Energy Solutions today announced final close of a USD$65,000,000 senior secured loan facility to Certus Oil & Gas, Inc., supporting the acquisition of producing assets in central Alberta. This transaction marks the first cross-border transaction undertaken by the new Anvil Channel direct energy lending initiative.

Today, Soltage LLC, a leading independent renewable power producer, and Silicon Valley Bank, an innovative bank active in the renewable energy and technology sector, announced that it raised a $130M debt facility led by Silicon Valley Bank. The investment will finance a 110 MW national portfolio of projects across six states: North Carolina, South Carolina, Maine, Illinois, Virginia and Maryland.