TSL Express Daily Articles & News

White Oak Healthcare MOB REIT has acquired a Class-A Medical Office Building in the Atlanta metropolitan area. The Class-A medical office building is primarily leased to Emory Specialty Associates, a subsidiary of Emory Healthcare and Emory University, the largest hospital health system in the state, and other physician practices. The property is located in Stonecrest, Georgia, a submarket with three prominent health system facilities, Hillandale DeKalb Medical Center, Kaiser Permanente Panola Medical Center, and East DeKalb Health Center, and strong demographics.

Good Funding, LLC ("Good Funding"), a recently-launched small business finance company, has closed on a $20.0 million senior revolving credit facility with a U.S.-based, credit focused asset manager. The agreement includes an accordion feature with the option to increase the credit facility to $30.0 million. The transaction represents Good Funding's inaugural institutional financing. Proceeds will be used to increase the Company's funding capabilities and execute its strategic growth plan.

HiberCell, a biotechnology company developing therapeutics focused on preventing cancer relapse and metastasis, today announced that it has completed a Series B financing round for gross proceeds of $67.4 million. Concurrent to this financing, HiberCell closed on a $30 million debt facility with Hercules Capital, Inc. (NYSE: HTGC).

MidCap Financial today announced it has provided a $250 million senior revolving credit facility to Vericast Corp. (“Vericast”), a marketing solutions provider that directly influences consumer purchasing and transaction behavior at scale. The MidCap Financial credit facility refinanced the company’s prior credit facility and will provide for the company’s go-forward working capital needs.

Sallyport Commercial Finance is thrilled to announce the promotion of James Bartel to the position of senior vice president of sales, effective immediately. James has served Sallyport's SME and entrepreneur business owners diligently over the past four years, consistently over-achieving while promoting the Sallyport vision and values at every opportunity. James' role will continue to be pivotal to the growth of new business and the future of Sallyport.

Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a revolving line of credit to Quality Candy Company, LLC (“Quality Candy”), a manufacturer and distributor of high quality hard candy and soft sugar candy. Along with the financing, Quality Candy utilizes a full suite of Pacific Mercantile Bank’s depository products and treasury management services.

Matt Rupp has joined Troutman Pepper as a partner in the Corporate Practice Group. Most recently, Rupp served as a partner at McDermott Will & Emery. Rupp has spent more than 10 years counseling clients on a variety of corporate matters. He focuses his practice on representing private equity and other investment funds, private and public companies, and family offices in a wide variety of transactions, with an emphasis on mergers, acquisitions, divestitures, recapitalizations, restructurings, joint ventures, and general corporate counseling.

Bill Noel joined IDS on May 17 as its new chief product officer – a newly created executive position to lead the company's secured finance portfolio growth objectives. IDS, a leading provider of enterprise mission-critical solutions for secured finance, today announced that Bill Noel has joined the company as its chief product officer. In this newly created executive position, Noel will play a strategic role in leading and integrating the company's comprehensive portfolio of market leading product offerings to deliver unparalleled value to the global secured finance market.

Greg Charleston brings more than 30 years of experience in turnaround and M&A, specifically working with financially troubled or underperforming companies to address liquidity issues, develop cost containment programs, implement process improvements, and improve profitability.

CIT Group Inc. (NYSE: CIT) today announced that it has hired Blake Goddard as a business development officer in its Asset-Based Lending business. Goddard will be based in Atlanta and focus on asset-based lending business development across the Southeast region, where he will be responsible for generating new business leads, deepening client relationships and representing a wide range of bank products and services.

Express Trade Capital Inc. recently closed a $1.3MM letter of credit (LC) facility to help finance its client’s purchase of Personal Protective Equipment (PPE) from a manufacturer in Vietnam. Prior to the transaction, Express’s client – a commodities trader – obtained a purchase order backed by an LC from their end customer, an established distributor of PPE and consumer goods.

Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $750,000 to Flash Temps, LLC. The credit facilities will be used to provide working capital to support the company’s current operations.

The Yieldstreet Private Business Credit team rocketed through the first month of 2Q21 closing six new deals for a total of $31.2M. These deals are across both consumer and commercial asset classes, various positions within the capital stack, and different states.

Gartz is based in Texas and reports to Group Sales Manager, Steve Hansen. He brings extensive experience in growing middle market banking relationships, most recently serving as senior vice president, corporate banking with BBVA. Bassel is based in California and reports to Group Sales Manager, James (Jim) Farrell.

Ares Commercial Finance (“ACF”) announced that it has provided a $10 million senior secured multinational revolving line of credit to MicroStar International Holdings Corporation (“MicroStar”), a portfolio company of Freeman Spogli, for working capital purposes in support of the acquisition of Kegstar Holdings Pty Ltd (“Kegstar”). Kegstar, founded in Australia in 2012, engages in “keg pooling” and keg leasing services in Australia, the UK, and US.

ADC Therapeutics SA (NYSE: ADCT), a commercial-stage biotechnology company leading the development of novel antibody drug conjugates (ADCs) to treat hematological malignancies and solid tumors, today announced the receipt of the $50 million second tranche under its convertible credit facility with Deerfield Partners, L.P. and certain of its affiliates (collectively, Deerfield). Under the terms of the Facility Agreement dated April 24, 2020, Deerfield agreed to provide to the Company up to $115 million in financing consisting of two separate tranches.

Cimpress plc (Nasdaq: CMPR) has closed its previously announced $1.16 billion senior secured Term Loan B (the “Term Loan B”). In conjunction with this transaction, Cimpress redeemed all of the $300 million aggregate principal amount of its 12% second lien notes due 2025, which it issued one year ago during the height of pandemic uncertainty. Additionally, Cimpress’ Term Loan A due 2024 has been repaid and terminated and Cimpress repaid all amounts drawn under its revolving credit facility.

Hayward Holdings, Inc. (NYSE: HAYW), a global designer, manufacturer and marketer of broad portfolio of pool equipment and associated automation systems, announced today that its indirect, wholly owned subsidiary Hayward Industries, Inc. (the “Company”) has successfully secured commitments for a senior secured term loan facility (“New Term Loan Facility”) in an aggregate principal amount of $1 billion.

KeyBank National Association was the Administrative Agent and KeyBanc Capital Markets, Inc., Capital One, National Association and Regions Capital Markets were Joint Lead Arrangers.

mCloud Technologies Corp. (TSX-V: MCLD) (OTCQB: MCLDF) ("mCloud" or the "Company"), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence ("AI") and analytics, is pleased to announce it has executed a commitment letter with ATB Financial ("ATB") for a $5 million secured operating line (the "ATB Facility"). Proceeds of the ATB Facility will be used to repay amounts owed by the Company to HSBC Bank Canada and for general working capital purposes.