Altimmune, a late clinical-stage biopharmaceutical company developing novel peptide-based therapeutics for liver and cardiometabolic diseases, entered into an agreement with Hercules Capital, for up to $100 million in a credit facility, with a $15 million tranche funded at closing. Additional tranches will become available upon achievement of certain clinical and financial milestones aligned with the Company’s pemvidutide development plans and financing needs.Access to this additional capital
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Ernst & Young (EY US) has announced the finalists for the prestigious Entrepreneur Of The Year 2025 New England Award. Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most ground-breaking companies, revolutionizing industries and making a profound impact on communities. The program honors bold entrepreneurs whose innovations shape the future and pave the way for a thriving economy and a hopeful tomorrow.An independent
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Axsome Therapeutics, a biopharmaceutical company leading a new era in the treatment of central nervous system (CNS) disorders, entered into a $570 million term loan and revolving credit facility with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance (“Blackstone”). Concurrent with this new facility, Axsome has retired its previous term loan with Hercules Capital. The improved financial terms and expected use of the new facility are expected to result in a significant
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Pyxus International, a global value-added agricultural company, announced the amendment of its asset-based lending (ABL) credit facility with PNC Bank, which was initially established February 8, 2022. As part of the amendment, the Company will have access to increased borrowing availability, lower interest rates and fees in the credit agreement, and an extended maturity date.
The amended agreement provides Pyxus with access to an additional $30 million of funding, increasing the committed
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Faced with rising regulatory demands and operational pressures, general partners (GPs) are increasingly turning to outsourcing and technology to manage special purpose vehicles (SPVs) more efficiently. This trend is highlighted in a new report from CSC, the leading provider of global business administration and compliance solutions.CSC surveyed 400 GPs across the Americas, Europe (including the U.K.), and Asia Pacific to uncover how today’s market shifts and operational pressures are reshaping
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Versant Funding is pleased to announce it has funded a $30 million non-recourse factoring facility to a company that manufactures and distributes furniture to major brick-and-mortar as well as on-line retailers.The factoring company this business had relied upon for many years to meet their working capital needs had decided not to renew their facility. At the time, there was a significant balance outstanding that placed the transaction outside the funding capabilities of most factors. In
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Sallyport partnered with a growing IT and Technical Staffing business, providing a $250,000 accounts receivable financing facility to help meet the rising payroll demands of their temporary workforce. The client, introduced to Sallyport by their valued partners at Northrim Funding Services, is forecasting strong near-term growth and is targeting $1M+ in revenue by 2026. With rapid expansion on the horizon, they needed a financing partner that could move quickly and deliver a tailored solution to
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AE Industrial Partners, LP (“AE Industrial”), a private investment firm specializing in National Security, Aerospace, and Industrial Services, closed its second aerospace leasing fund, AE Industrial Partners Aerospace Leasing Fund II, LP (“Aerospace Leasing Fund II”), which was oversubscribed with total capital commitments of $418 million, reflecting strong support from both existing and new investors. Commitments came from a diverse mix of institutional investors, including public and private
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Great Rock Capital agented a $130 million senior secured revolving credit facility for Panavision Inc. Panavision, a sponsor-owned company, is a premier global provider of high-precision cinema lenses, cameras, lighting equipment, and post-production services for the motion picture, television, and commercial markets. The company operates in 11 countries worldwide.The new revolving credit facility, secured by current and fixed assets, refinanced the company’s existing debt and provides
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Fusion Connect, a leader in cloud communications services, announced that the company has entered into a new NAV-based loan agreement with Hark Capital, providing Fusion Connect with a term loan of $85 million. The proceeds will be used for operating capital, to pay down existing debt, and to drive new strategic investments which will further accelerate Fusion's growth."We are thrilled to announce our new partnership with Hark Capital," said Brian McClintock, CFO of Fusion Connect. "This
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Gibraltar Business Capital announced that Andrew Gustin has joined as SVP of the Midwest Region. gustin will lead origination activities across the Midwest to support GBC’s strategic expansion, offering asset-based loans between $10MM and $100MM to businesses looking for non-dilutive capital.Gustin brings over 20 years of experience providing debt and equity capital to middle-market companies. Before joining Gibraltar, he served as Director of Business Development at Edge Capital, where he
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Utica closed a $3,100,000 capital lease for a Permian Basin oilfield services and aggregates provider. Secured by heavy construction machinery, site development equipment, and aggregate processing assets, this transaction enables the company to refinance existing debt and strengthen its working capital position. The lease supports a broad suite of services—including road construction, fracking pit installation, trenching, remediation, and weed control—while also bolstering the firm’s in house
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While tariffs and other policy factors will have a limited direct impact on direct lending portfolios, second-order effects could weigh more heavily on middle-market borrower performance, according to "Scenario Analysis: Private Credit Is Insulated But Not Immune From Tariff Risk", published on RatingsDirect. Second-order effects could include sustained inflation, weakened consumer spending, reduced corporate investment, recessionary pressures, and overall market unpredictability. S&P Global
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Entrepreneur Growth Capital (“EGC”) closed a $7.5 million asset-based facility to a west coast based corporate relocation and housing company.The credit facility provides availability against accounts receivable and an over advance facility to provide additional working capital for certain startup expenses. The client was a long time bank customer but when the market turned during the pandemic, it was asked to leave. With few options, it found a home with a local factoring company. In order to
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Kirkland's, a specialty retailer of home décor and furnishings, closed a $5.2 million expansion of the existing credit agreement with Beyond, Inc. ("Beyond"). The upsized facility strengthens Kirkland's financial position, providing flexibility for general working capital purposes and support for the Company's updated store conversion strategy.Amy Sullivan, President and CEO of Kirkland's, "We're grateful for Beyond's ongoing partnership as we continue to reshape our business. This additional
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