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Monroe Capital named Zia Uddin as its President. Mr. Uddin who is a Partner and Portfolio Manager, Institutional Portfolios, will continue to report to Ted Koenig, who will remain the firm’s Chairman and CEO.“Zia has been instrumental in establishing Monroe as a leader in the asset management industry and there is no one better suited for this role,” said Ted Koenig, Chairman and CEO of Monroe.  “Zia and I have worked together for over 14 years and I am looking forward to working even more Read Story

October 19, 2021 @ 08:00 AM

B. Riley Financial announced the expansion of its Corporate Advisory and Valuation Services practice with the addition of Dave Bookbinder and Quinn Shearer to B. Riley Advisory Services. Bookbinder and Shearer bring significant business and intangible asset valuation expertise, serving strategic corporate finance functions in areas including tax planning, financial and tax reporting, transaction advisory and due diligence."The addition of these talented professionals to our national practice Read Story

October 19, 2021 @ 07:52 AM

Axsome Therapeutics announced that its existing term loan facility agreement with Hercules Capital has been amended to increase the size of the facility to $300 million, and the amount immediately available upon U.S. Food and Drug Administration (FDA) approval of AXS-05 for major depressive disorder to $100 million, at the Company’s option. The amendment also extends the maturity and interest-only period of the facility.“We are pleased with the amendment to our term loan facility, resulting in Read Story

Field Under: Biotechnology
October 19, 2021 @ 07:49 AM

OppFi, a leading financial technology platform that powers banks to help everyday consumers gain access to credit, amended its existing $75 million credit facility with Atalaya Capital Management to support the growth of the newly launched OppFi Card, issued by First Electronic Bank, Member FDIC. OppFi recently launched OppFi Card, its first-ever credit card designed to enable the company to serve a segment of the $21 billion non-prime credit card market.1“This expanded relationship with Atalaya Read Story

Field Under: Technology
October 19, 2021 @ 07:46 AM

Stingray Group, a leading music, media and technology company, successfully completed the increase and extension of its existing credit facilities, providing additional liquidity for operations and M&A activities. The $442.5 million credit facilities consist of a $375 million revolving credit facility and a $67.5 million term loan, both maturing in October 2026. The renewed terms include incremental commitments up to $100 million upon request, subject to predetermined conditions. The Read Story

Field Under: Media
October 19, 2021 @ 07:34 AM

inTEST Corporation, a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets, including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications, executed a new five-year credit agreement with M&T Bank, which includes a $25 million non-revolving delayed draw term loan and a $10 million revolving credit facility. This new agreement replaces inTEST’s existing $10 million facility with M&T Bank Read Story

Field Under: Specialty Industries
October 19, 2021 @ 07:28 AM

FTI Consulting announced the continued expansion of FTI Capital Advisors, the firm’s wholly owned investment banking subsidiary, with the appointment of Robert Salandra and Larry Stone as Managing Directors in the firm’s Power, Renewables & Utilities practice within the Corporate Finance & Restructuring segment. Based in New York, Mr. Salandra is an investment banking and capital markets professional with more than 25 years of experience providing debt and equity capital advice to clients in the Read Story

October 19, 2021 @ 07:26 AM

The International Factoring Association (IFA) and the American Factoring Association (AFA) is saddened to announce the passing of lobbyist Palmer Hamilton, a colleague and friend. The IFA is the world’s largest association of commercial finance companies, and the AFA is the industry’s lobbying arm committed to the betterment of the factoring community. As the AFA’s lobbyist, Hamilton was a wise counselor and instrumental in building relationships in government on behalf of the AFA. "Palmer was Read Story

October 19, 2021 @ 07:09 AM

William Blair announced the addition of Daniel Polsky as managing director and co-head of syndicate in the firm’s equity capital markets group. Based in the firm’s New York office and drawing on more than a decade of experience in roles in all aspects of the capital markets sector, Polsky will focus on delivering optimal equity offering execution and advice to market-leading companies and their shareholders. Polsky will co-head the syndicate group along with Walter Prest who is based in the Read Story

October 19, 2021 @ 07:00 AM

Mayer Brown announced that Sam Patranella joined the firm’s Houston office as a partner in the Corporate & Securities practice, where he will focus on energy and private equity transactions. Previously, Mr. Patranella was vice president, general counsel and corporate secretary for Luxe Energy LLC and Luxe Minerals LLC, where he was also an initial member. “As a highly-regarded lawyer and successful entrepreneur, Sam brings a unique set of skills and relationships to our firm,” said Kevin Read Story

October 19, 2021 @ 06:00 AM

U.S. Bank named Troy Remington as Chief Credit Officer. Remington has been serving as interim chief credit officer since early August, when the former chief credit officer accepted a new leadership role within the company. Remington will report to Jodi Richard, U.S. Bank’s Chief Risk Officer.“We’re excited to have Troy in this role and pleased we were able to fill this critical position from within,” Richard said. “Troy’s depth of credit risk knowledge, familiarity with U.S. Bank and our credit Read Story

October 18, 2021 @ 08:05 AM

Ares Management Corporation announced the final closing of Ares Private Credit Solutions II (“APCS II” or the “Fund”). APCS II was oversubscribed with $5.1 billion of commitments compared to its $4.0 billion target and is approximately 50% larger than its 2017 predecessor fund.Through APCS II, Ares provides tailored junior capital financing solutions to upper middle market companies. The Fund invests primarily in directly originated second lien, mezzanine private high yield debt and preferred Read Story

Field Under: Private Equity News
October 18, 2021 @ 08:00 AM

CIBC Innovation Banking provided a $30 million credit facility for Atlanta-based Azalea Health (“Azalea”). Azalea will use the capital to aid in its recent acquisition of dashboardMD, a cloud-based provider of business intelligence reporting solutions and healthcare analytics.The Azalea platform provides electronic health records integrated with telehealth functionality, revenue cycle management, and mobile health applications. As a modern, fully cloud-based SaaS solution, Azalea delivers Read Story

Field Under: Healthcare
October 18, 2021 @ 07:33 AM

Interpace Biosciences, along with its subsidiaries, entered into a new $7.5 million revolving credit facility with Comerica Bank. The facility matures on September 30, 2023 and allows for advances based on 80% of eligible accounts receivable plus an applicable non-formula amount consisting of $2,000,000 of additional availability at close, stepping down $250,000 per quarter beginning with the quarter ending June 30, 2022. The interest rate is equal to prime plus .50%, prime being the greater of Read Story

Field Under: Biotechnology
October 18, 2021 @ 07:09 AM

High Tide, a leading retail-focused cannabis company with bricks and mortar as well as global e-commerce assets, entered into a credit agreement to establish a revolving credit facility with ATB Financial ("ATB") in an amount of up to C$25 million or US$20.2 million (comprised of an initial C$10 million limit and C$15 million accordion, the "Facility"), with an expected interest rate of less than 6% per annum."We are extremely pleased to finalize this facility today. We know that our Read Story

Field Under: Cannabis
October 18, 2021 @ 07:06 AM