TSL Express Daily Articles & News

Sixpoint Partners, a leading global investment bank serving the middle-market, is pleased to announce the successful closing of Sumeru Equity Fund III, L.P. (the “Fund” or “Fund III”) with $720 million of total capital commitments. The Fund was significantly oversubscribed above its initial target of $600 million and nearly doubled the size of its predecessor vehicle.

XS Financial Inc. ("XS Financial", "XSF" or the "Company") (CSE:XSF)(OTCQB:XSHLF), a specialty finance company providing equipment leasing solutions to cannabis and hemp companies in the United States, announced today that it has successfully closed a US$2 million senior secured revolving credit facility, with an FDIC insured bank, which has a term of two (2) years, expiring in November 2022

iQor ("the Company"), a managed services provider of customer engagement and technology-enabled BPO solutions, announced today that the Company and each of its U.S. subsidiaries have emerged from Chapter 11 bankruptcy, signaling the completion of the financial restructuring process. The Company’s Pre-Packaged Plan of Reorganization was confirmed by the United States Bankruptcy Court for the Southern District of Texas on October 14, 2020.

BioRestorative Therapies, Inc. (“BioRestorative” or the “Company”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender.

Seacoast Business Funding is pleased to announce the addition of John Church, as VP Business Development Officer. Mr. Church is based on the West Coast and will focus on cultivating and growing the Seacoast portfolio in the region. He brings over twenty years of experience in solving complex financial challenges for businesses within the alternative lending space.

Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), a clinical-stage biopharmaceutical company focused on respiratory diseases, announces that it has entered into a debt financing facility for up to $30 million (“debt facility”) with Silicon Valley Bank (“SVB”). The non-dilutive capital provides further financial flexibility to support pre-commercialization activities for ensifentrine, the Company’s first-in-class product candidate, which is currently in Phase 3 trials.

A&G Real Estate Partners (A&G) today announced record results for the first nine months of 2020—efforts that resulted in a total of $1.68 billion in occupancy-cost reductions for 51 retailers, restaurants, educational users, office tenants and fitness and entertainment operators.

Citizens M&A Advisory advised Findley, Inc. on its sale to USI Insurance Services, LLC. A leading human resources and employee benefits consulting firm, Findley provides actuarial, benefits and administrative consulting services to private and publicly-held companies, the public sector and non-profit organizations. Findley employs more than 250 associates, serving clients across the country from seven office locations in the Midwest and Southeast.

CVC Credit Partners (CVC Credit) has provided a GBP37.5 million first lien credit facility to Nurse Plus, a healthcare services business backed by Sovereign Capital Partners. The new funding has been fully underwritten by CVC Credit and will be used to refinance the company’s existing debt facility and to support the business’s ongoing growth strategy

In the wake of several private treaty bulk sales and an initial single-facility auction, Tiger Group will be conducting online auctions in December for the remaining $7 million in inventories plus other assets from two East Coast facilities operated by American Medical Depot (AMD), a major distributor of medical equipment and supplies that is now winding down its business.

Espresso Capital announced today that it has provided Zype, a leader in video content management and distribution software, with a $7.5 million credit facility. The company will use the funds to accelerate its go-to-market strategy as it looks to grow its business and meet key corporate goals.

Guitar Center Inc, the largest U.S. retailer of music instruments and equipment, filed for Chapter 11 bankruptcy on Saturday, as music lovers moved their shopping online during the coronavirus pandemic. Milbank LLP served as legal counsel, BRG served as restructuring advisor, and Houlihan Lokey was financial advisor to the company.

A heavy haul transportation company in Texas has chosen TAB Bank for a $3.5 million asset-based revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company specializes in hauling large cranes and excavation equipment.

Brightwood Capital Advisors, a leading private credit firm, today announced the appointment of William W. Archer as Chief Credit Officer, a position he previously held from 2013 to 2015. In this role, he will oversee Brightwood's existing portfolio, as well as play an important role in the firm's analysis of new investments. Mr. Archer brings more than 40 years of credit experience to the team and will be based in New York.

Pike Street Capital, LLC, (“Pike Street”), a Seattle-based private equity firm, has announced the closing of Pike Street Capital Partners (the “Fund”), a $237 million fund that will focus on control investments in industrial technology businesses. Fund investors include leading institutional limited partners, such as endowments, insurance companies, fund of funds, and family offices along with strategic operating executives. The Fund was over-subscribed to its original $200 million target.

Mark Okada, Jack Yang and Trey Parker, industry veterans and innovators in alternative credit investing, today announced the launch of Sycamore Tree Capital Partners (Sycamore Tree) – an asset manager specializing in private and alternative credit. Mark Okada will serve as Chief Executive Officer, Jack Yang will serve as President and Head of Business Development, and Trey Parker will serve as Chief Investment Officer. John Muse and Ken Hersh are strategic investors in the firm’s initial fund launches and will also serve on the management company advisory board to help shape long-term strategy.

SSG Capital Advisors is pleased to announce that Teresa C. Kohl will be inducted as a Fellow in the 32nd Class of the American College of Bankruptcy. Kohl is one of 37 new Fellows, insolvency professionals who are being honored and recognized for their professional excellence and their exceptional contributions to the bankruptcy and insolvency practice. The Induction Ceremony will be held on Friday, March 19, 2021, in Washington, D.C.

Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Tom Goldrick has joined the firm’s Transaction Advisory Services practice as a Managing Director and Head of M&A Tax Services. He is based in Chicago.

Landlords need to keep the doors open at important stores—and avoid triggering escape clauses in other retailers’ leases, advises Bradley W. Snyder in webinar from Insolvency Insider.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a $6 million asset based lending deal for a family-owned pawn business and jewelry, metal and accessories retailer.