Chiron Financial served as exclusive financial advisor and placement agent for SMG Industries, Inc. in its acquisition of 100% of the membership interests of 5J Oilfield Services LLC (“5J Oilfield”) and 5J Trucking LLC (5J Trucking”), both Texas limited liability companies (together, the “5J Companies”).

Chiron arranged the private placement of a combined $35.5 million comprised of (a) a bridge loan, (b) two first-lien equipment term loan facilities, (c) a revolving credit facility, (d) a seller note, (e) convertible debt with equity warrants, and (f) convertible preferred stock retained by the seller. The Chiron team also took over the role of interim CFO after the untimely death of the incumbent.  The financing was used to pay the cash portion of the purchase price, repay existing indebtedness, and provide working capital. The transaction closed on February 27, 2020.