Alector, a clinical-stage biotechnology company pioneering immuno-neurology, entered into a debt financing agreement with Hercules Capital for up to $50 million. Under the terms of the agreement, Alector drew an initial $10 million at closing. An additional $15 million is available at the Company’s request through June 30, 2026, with an additional $25 million available upon lender approval. The Company is under no obligation to draw funds in the future. The credit facility carries a low
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November 15, 2024 @ 08:00 AM
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SSG Capital Advisors served as the investment banker to Trugman-Nash, LLC, a subsidiary of Allied Dairy Products, Inc., in the sale of 100% of its equity ownership interests to Arthur Schuman, Inc. d/b/a Schuman Cheese. The transaction closed in October 2024.Trugman-Nash is a leading importer and distributor of specialty cheddar cheese products. The Company’s leading brand, Old Croc®, was created by Trugman-Nash in 2012, and became one of the country’s fastest-growing imported cheese brands.
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November 15, 2024 @ 07:58 AM
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Lighthouse Financial completed a $4,000,000 revolving line of credit to a South Carolina-based manufacturer and distributor of lighting fixtures. The company sells a wide range of interior and exterior lighting products, including pole and wall mounts, suspended lighting, illuminating bollards and columns, recessed wall, inground, and illuminating bench lighting. A leading force in the international lighting market, the company is respected for innovative, attractive indoor and outdoor
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November 15, 2024 @ 07:55 AM
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With the election now behind us, many business owners are planning for 2025. A recent KeyBank Small Business Flash Poll found 61% of respondents indicated they were likely to seek clarity and hold off on major business decisions until after the election, while only 12% said the election would have no impact on their 2025 planning. The poll also found business owners anticipate policy shifts will most affect areas such as:
Taxation (45%)
Regulations (34%)
Trade policies (31%)
Despite
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November 15, 2024 @ 07:45 AM
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Alvarez & Marsal (A&M) announced the addition of Elan Ben-Avi as a Managing Director in its North America Commercial Restructuring (NACR) practice. Ben-Avi’s arrival underscores the practice’s ongoing talent investments, and enhances the firm’s ability to help clients navigate restructuring challenges amid economic volatility and evolving market conditions. Ben-Avi’s advises clients on multinational restructurings, operational turnarounds, and distressed transactions across multiple industries
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November 15, 2024 @ 07:40 AM
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TPG Twin Brook recently served as administrative agent on debt financings to support:
Halifax Group’s recapitalization of ChanceLight Inc., a leading provider of behavioral health, therapy, and education solutions for children and young adults.
Blue Sage Capital’s refinancing of Baker Manufacturing Company, LLC, a vertically integrated manufacturer of water well equipment and accessories for residential, industrial, municipal, and environmental applications. Additional details regarding
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November 15, 2024 @ 07:15 AM
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PlainsCapital Bank announced that Travis Smart has joined its Fort Worth lending team as Senior Vice President, Senior Commercial Loan Officer. He will be based at the Bank’s Downtown Fort Worth location at 801 Houston Street. In his new role, Smart will focus on developing and managing client relationships, providing tailored commercial loan solutions, and offering PlainsCapital’s diverse range of products and services to support commercial customers. “Travis has built a solid career in
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November 15, 2024 @ 07:00 AM
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Equify Financial announced the launch of its new division offering receivables lending and ABL capital solutions serving a variety of industry sectors. This new division is officially named Equify Business Funding. The expansion demonstrates Equify’s ongoing commitment to providing innovative financial products that empower businesses to optimize their cash flow and drive growth. Leading this new venture is industry veteran Kei Lehigh, who joins Equify Financial as the President of Equify
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November 14, 2024 @ 08:15 AM
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Crown Partners successfully arranged $30 million of senior financing from a leading US commercial bank for HGS BioScience, LLC (“HGS”), a portfolio company of Paine Schwartz Partners. The firm served as exclusive financial advisor to HGS in connection with this transaction. Crown was chosen for its specialized expertise in the asset-based financing market, which allowed HGS to access efficient low-cost growth capital by leveraging its asset base. Crown simultaneously arranged a revolving
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November 14, 2024 @ 08:12 AM
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TAB Bank provided a $5 million credit facility to CoreCentric Solutions, Inc., a provider of recovery, repair and return-to-market services for appliances, appliance parts and consumer goods. This financing will support CoreCentric Solutions’ mission to reduce waste by keeping appliance parts and consumer products in the economy—inventing new ways to extend the lifecycle of products by collecting, rebuilding, fixing and returning them to the marketplace.Since 1995, CoreCentric Solutions has
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November 14, 2024 @ 08:10 AM
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Hancock Whitney named Matt Mouledous managing director of its asset based lending (ABL) division, Hancock Whitney Business Capital.Matt MouledousIn this role, Mouledous, who previously served as a senior portfolio manager for the bank will manage the asset based lending team and oversee the ongoing sales and growth efforts of Hancock Whitney’s asset based lending portfolio primarily serving 12 states across the southern United States.“Matt has a wealth of valuable experience, energy and a strong
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November 14, 2024 @ 08:00 AM
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SLR Business Credit announced the addition of Mark J. Simshauser as Senior Vice President. In this role, Simshauser will have the responsibility of supporting and financing SME’s through the Northeast United States.“Having the past professional experience in working with the executive management of SLR Business Credit when it was North Mill Capital brings it all full circle in the commercial finance industry,” said Simshauser. “The ability to be reunited with great people and having the same
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November 14, 2024 @ 07:51 AM
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eCapital successfully completed a $30 million asset-based lending (ABL) facility for an established energy services company. The funding will support a significant Employee Stock Ownership Plan (ESOP) transaction, marking a pivotal milestone in the company’s transition to employee ownership and its commitment to workforce empowerment.The transaction was completed in collaboration with ButcherJoseph & Co., a leading investment bank specializing in ESOPs and ownership transitions, whose expertise
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November 14, 2024 @ 07:48 AM
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Rosenthal & Rosenthal announced the completion of an asset-based lending transaction and a factoring transaction totaling $5 million. A well-established handbag and accessories business that had historically been focused in the wholesale channel pivoted and invested in building a robust direct-to-consumer channel through their own website and Amazon. Revenues have scaled rapidly, and the company was looking to fulfill shipments out of Mexico (a section 321 complaint country) to take advantage of
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November 14, 2024 @ 07:30 AM
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SLR Business Credit (SLRBC) is excited to announce its partnership with Innovative Packaging Solutions (IPS), an established Southern California packaging firm that combines industry expertise, award-winning designs, and cutting-edge technology with a global reach to deliver the ultimate positive packaging experience from “factory to fingertips”.
The senior debt facility will provide for the company’s ongoing growth and will facilitate its mission to provide the best packaging protection for
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November 14, 2024 @ 07:00 AM
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