Nabil Istafanous announced the launch of Foothills Capital Advisory, a practice dedicated to helping businesses secure the necessary working and growth capital to succeed in today's challenging credit environment.During times of higher interest rates and tight bank credit, more businesses need to venture beyond traditional banks for lending. With the proliferation of alternative lenders, complex financial structures and aggressive marketing practices from questionable “cash advance” lenders
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SSG Capital Advisors served as the investment banker to Eiger BioPharmaceuticals, Inc. in the sale of substantially all of its assets related to the FDA-approved drug Zokinvy®, to Sentynl Therapeutics, Inc. The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the Northern District of Texas (Dallas Division). The transaction closed in May 2024.Founded in 2008, Eiger is a commercial-stage biopharmaceutical company focused on the development of
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Huntington Business Credit closed $38,000,000 in new credit facilities with Royal Chemical Company, Ltd. on April 30, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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eCapital funded an $18 million asset-based lending facility for a leading commercial linen services company. This transaction not only demonstrates eCapital's commitment to supporting mid-market businesses but also highlights the value of its industry expertise in providing timely financial support to a business at a crucial turning point.A commercial linen provider servicing the food & beverage, hotel, agriculture, industrial, and healthcare sectors found itself at a crossroads. After
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Eclipse Business Capital provided a $105.8 million senior secured credit facility, consisting of an asset-based revolving line of credit and term loan to a sporting goods manufacturer. The credit facility is secured by accounts receivable, inventory, and intellectual property rights on the Company’s brand. The transaction will refinance the Company’s existing credit facilities and provide additional liquidity for working capital purposes.EBC’s demonstrated track record of executing quickly
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First Citizens Bank's CIT Commercial Services subsidiary named Don Norman as a vice president and senior portfolio and relationship manager in its Western Region. In his new role, Norman will be responsible for managing a portfolio of clients while consistently supporting the overall growth of Commercial Services in the Western region. Based in Los Angeles, he will report to Michael Raynor, portfolio team leader, under the direction of Western Regional Manager Darrin Beer. “We are excited to
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FrontWell Capital Partners closed a USD$14.2 million secured credit facility with Uniroyal Engineered Products, a manufacturer of vinyl-coated fabrics and soft trim technologies.The facility, comprised of a revolver and a term loan, will be used by Uniroyal to refinance its existing debt and provide additional working capital liquidity to support Uniroyal's sales initiatives."We are happy to provide a credit facility to Uniroyal that will allow the company to lean into their future sales
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Seeking to broaden their sales reach in the US market, a thermal insulation company establish a new subsidiary. However, faced with insufficient working capital to fulfill substantial orders that would help them achieve their new sales goals, they sought assistance from a finance broker, who referred them to Gateway Trade Funding for support.Gateway provided a purchase order facility amounting to $500,000, enabling the company to seize the opportunity presented by the sizable new orders and
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Sam Ash—the century-old American music retailer that became a beloved institution for generations of amateur and professional musicians alike—filed for Chapter 11 bankruptcy protection on May 8, 2024 in the U.S. Bankruptcy Court for the District of New Jersey. Tiger Group and Gordon Brothers are now conducting store closing sales at all 42 remaining stores as Sam Ash pursues options for its go-forward strategy. Sam Ash is evaluating potentially selling its e-commerce operations and related
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Electric Hydrogen announced $100 million in corporate credit financing to support manufacturing and deployment of their innovative 100MW electrolyzer plants, which enable the lowest cost production of green hydrogen. The funding was led by HSBC, with participation from J.P. Morgan, Stifel Bank, and Hercules Capital.Electric Hydrogen, headquartered in Natick, MA, is leading critical industries such as steel, fertilizer, shipping and aviation towards decarbonization with its powerful
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Encina Private Credit served as club lender providing a First Out tranche in a Senior Secured Credit Facility supporting Stone Goff portfolio company John Staurulakis, LLC (“JSI”). The Senior Secured Credit Facility is led by Balance Point Capital Partners with EPC acting as club lender by providing term loan and delayed draw term loan commitments to JSI.JSI is a full-service consulting and broadband solutions leader, providing a complete range of operational, financial, management, engineering
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NXT Capital provided a senior credit facility to support Shoreline Equity Partners’ refinancing of Engelman’s Bakery. NXT Capital acted as the Administrative Agent, Sole Bookrunner, and Sole Lead Arranger on this transaction.“We are pleased to close our second consecutive transaction with NXT Capital in 2024,” stated Mike Hand, Co-Founder and Managing Partner, Shoreline Equity Partners. “The NXT Capital team continues to demonstrate great expertise and innovative, flexible solutions throughout
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Benefit Street Partners announced the final close of BSP Special Situations Fund II and its affiliated vehicles (“Fund II”) which were oversubscribed with approximately $850 million in capital commitments. Fund II will seek to continue the investment approach of its predecessor fund.BSP’s special situations platform aims to provide solutions to borrowers unable to access traditional markets, leveraging its vast experience in stressed and distressed situations. Since inception of the platform
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First Citizens Bank's Healthcare Finance business served as lead arranger for a $260 million loan to refinance a portfolio of 12 skilled nursing facilities in Maryland.The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities with Investments in over 24 states.These specific licensed facilities represent more than 1,500 skilled nursing beds, which typically offer care to individuals who need rehabilitation from
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Wintrust Commercial Finance (WCF) created a new business group, Commercial Dealer Services (CDS). CDS will focus on delivering financial products to large franchised truck and trailer dealerships who then provide full-service financing and other ancillary services, including full maintenance leasing and daily rentals, to their customers, primarily for Class 6, 7, and 8 trucking assets. To execute this initiative, WCF has hired a team of seasoned professionals led by Mike Jones as Senior Vice
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