Silicon Valley Bank

Olema Oncology Reports Fourth Quarter and Full-Year 2023 Financial Results and Provides Corporate Update

Retrieved on: 
Monday, March 11, 2024

“In 2023 we demonstrated the unique opportunity ahead for palazestrant to make a meaningful impact on improving treatment options for women with ER+/HER2- breast cancer.

Key Points: 
  • “In 2023 we demonstrated the unique opportunity ahead for palazestrant to make a meaningful impact on improving treatment options for women with ER+/HER2- breast cancer.
  • Presented palazestrant monotherapy Phase 2 clinical results at the European Society for Medical Oncology (ESMO) Congress 2023 in Madrid, Spain, as an oral presentation demonstrating compelling activity in both wild-type and ESR1-mutant tumor types.
  • Non-GAAP G&A expenses were $3.1 million and $13.3 million for the quarter and year ended December 31, 2023, respectively, excluding $1.4 million and $5.5 million non-cash stock-based compensation expense respectively.
  • A reconciliation of GAAP to non-GAAP financial measures used in this press release can be found at the end of this press release.

Sol Systems, Partners Raise $250M for Landmark Renewable Energy Project

Retrieved on: 
Monday, March 11, 2024

Washington, D.C., March 11, 2024 (GLOBE NEWSWIRE) -- Sol Systems , a national renewable energy company, today announced the successful completion of financing for its landmark Eldorado Project in Saline County, IL.

Key Points: 
  • Washington, D.C., March 11, 2024 (GLOBE NEWSWIRE) -- Sol Systems , a national renewable energy company, today announced the successful completion of financing for its landmark Eldorado Project in Saline County, IL.
  • This pivotal project, utilizing US-made solar panels and racking, is poised to advance sustainable energy and contribute to the development of clean energy infrastructure in Southern Illinois.
  • This financing milestone signifies a major achievement in renewable energy development, underscored by Sol Systems' in-house expertise in structuring and executing complex financial arrangements.
  • Bret Turner, Head of Project Finance, Business Development and Innovation at Silicon Valley Bank, commented, "We are proud to support the Eldorado Project alongside Sol Systems and our esteemed partners.

Progress Announces Amended Credit Facility

Retrieved on: 
Thursday, March 7, 2024

BURLINGTON, Mass., March 07, 2024 (GLOBE NEWSWIRE) --  Progress (NASDAQ: PRGS), the trusted provider of infrastructure software, today announced that it has entered into a Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides a revolving credit facility in an aggregate principal amount of $900 million, and replaces the Company’s existing secured credit facilities. The revolving facilities under the Amended Credit Agreement will mature on March 7, 2029. As of the closing date, the Amended Credit Agreement has no term loan facility and there are no revolving credit loans outstanding.  

Key Points: 
  • BURLINGTON, Mass., March 07, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the trusted provider of infrastructure software, today announced that it has entered into a Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides a revolving credit facility in an aggregate principal amount of $900 million, and replaces the Company’s existing secured credit facilities.
  • The revolving facilities under the Amended Credit Agreement will mature on March 7, 2029.
  • As of the closing date, the Amended Credit Agreement has no term loan facility and there are no revolving credit loans outstanding.
  • Progress CFO Anthony Folger stated, “This new credit facility provides more scale and flexibility, both of which are important to support Progress’ continued growth.

Carputty Secures $80M In New Funds to Accelerate Growth

Retrieved on: 
Wednesday, March 6, 2024

ATLANTA, March 06, 2024 (GLOBE NEWSWIRE) -- Carputty (“Carputty” or the “Company”), a leading fintech company revolutionizing auto financing and ownership, is thrilled to announce the successful closure of a $75 million warehouse facility with Silicon Valley Bank (SVB), a division of First Citizens Bank. This significant investment is further bolstered by new equity contributions led by TTV Capital and supported by Fontinalis Partners, Kickstart Fund, Kinetic Ventures, and Grand Ventures. With the investment and warehouse facility combined, Carputty's newest financial backing exceeds $80 million. Other noteworthy key investors include Porsche Ventures and University Growth Fund, who, alongside the current participants have seen Carputty raise more than $100 million in total funding, marking a substantial milestone for the company.

Key Points: 
  • Brian Foley, Market Manager at SVB, collaborated closely with Carputty to structure and launch this transformative warehouse facility.
  • “SVB continues to support fintech companies in significant growth stages, and Carputty exemplifies the innovation and impact we seek in our partners,” said Foley.
  • The new warehouse facility, structured under a two-year term compared to the previous six-month term, serves as a robust growth facilitator for Carputty.
  • Patrick Bayliss, Co-Founder and CEO of Carputty, hailed the momentous occasion as a testament to the company's evolution.

Achieve Life Sciences Reaches Agreement with the FDA on Long-Term Cytisinicline Exposure Data Requirements for NDA Submission

Retrieved on: 
Thursday, February 29, 2024

Achieve and the FDA have reached agreement that a single, open-label study evaluating for long-term safety exposure of cytisinicline will be sufficient to complete the requirement and enable an NDA submission anticipated in the first half of 2025.

Key Points: 
  • Achieve and the FDA have reached agreement that a single, open-label study evaluating for long-term safety exposure of cytisinicline will be sufficient to complete the requirement and enable an NDA submission anticipated in the first half of 2025.
  • Based on FDA agreement, Achieve's NDA submission will include safety data on at least 300 subjects who have received cumulative cytisinicline treatment for six months.
  • Prior to potential approval, Achieve will provide the FDA with safety data from at least 100 subjects treated with cytisinicline for a cumulative duration of one year.
  • This allows for faster collection of cumulative long-term exposure safety data for the NDA submission.

DealFlow Events Re-Engages IBN as Official Media Partner for 2nd Annual Venture Debt Conference in March 2024

Retrieved on: 
Thursday, February 29, 2024

NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- via IBN – IBN , a multifaceted communications organization committed to connecting companies with the investment community through its dynamic portfolio of 60+ brands, is delighted to announce its re-engagement as the official media partner for the 2nd Annual Venture Debt Conference 2024 .

Key Points: 
  • NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- via IBN – IBN , a multifaceted communications organization committed to connecting companies with the investment community through its dynamic portfolio of 60+ brands, is delighted to announce its re-engagement as the official media partner for the 2nd Annual Venture Debt Conference 2024 .
  • Organized and hosted by DealFlow Events , The Venture Debt Conference is scheduled to take place on March 6, 2024, at the historic Edison Ballroom at 240 W 47th Street in New York City.
  • The Venture Debt Conference is the nation’s leading forum centered on the growing role of venture debt and nondilutive loan strategies for VC-backed and emerging growth companies.
  • Charlie Napolitano, Managing Director of DealFlow Events, commented, "At DealFlow, we are pleased to once again collaborate with IBN for our March 2024 event.

Five Star Bancorp invests in San Francisco Bay Area expansion strategy by hiring five commercial banking professionals and planning full-service office in San Francisco

Retrieved on: 
Wednesday, February 21, 2024

RANCHO CORDOVA, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”) announced the hiring of a team of five seasoned commercial banking professionals in San Francisco to advance the Company’s expansion strategy in the San Francisco Bay Area.

Key Points: 
  • RANCHO CORDOVA, Calif., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”) announced the hiring of a team of five seasoned commercial banking professionals in San Francisco to advance the Company’s expansion strategy in the San Francisco Bay Area.
  • The Company also announced it expects to open a full-service office at 345 California Street, San Francisco, in the third quarter of 2024.
  • The Company is adding five members to an existing team of proven Bay Area commercial banking professionals led by Five Star Bank’s San Francisco Bay Area Region President DJ Kurtze.
  • “We continue to build momentum in the San Francisco Bay Area as we welcome a team of five well-respected and highly experienced professionals who we believe will enhance our expansion efforts in the Bay Area.

Citi Ventures Backs Capstack Technologies, the First Integrated Bank-to-Bank Loan Marketplace Designed to Increase Profitability and Mitigate Asset Concentration Risk

Retrieved on: 
Wednesday, March 6, 2024

Capstack Technologies , the first bank-to-bank marketplace designed to mitigate asset risk, has secured a strategic investment from Citi Ventures, marking a significant milestone in its mission to revolutionize banking technology.

Key Points: 
  • Capstack Technologies , the first bank-to-bank marketplace designed to mitigate asset risk, has secured a strategic investment from Citi Ventures, marking a significant milestone in its mission to revolutionize banking technology.
  • Amidst a challenging investment climate, this funding is a testament to Capstack Technologies’ innovation following their successful $6 million fundraising last summer.
  • Capstack Technologies is leading the way with its "first bank-to-bank marketplace," promoting transparency, collaboration, and efficiency among small and medium-sized banks.
  • “Citi Ventures is committed to investing in companies that have the potential to drive our industry forward,” said Jeff Flynn, Director, Citi Ventures.

Liquid Agency Acquires Employment Branding Agency MindHandle

Retrieved on: 
Tuesday, February 20, 2024

Liquid Agency, a brand consulting and activation company headquartered in San Jose, California, has acquired Dallas-based employment branding agency MindHandle.

Key Points: 
  • Liquid Agency, a brand consulting and activation company headquartered in San Jose, California, has acquired Dallas-based employment branding agency MindHandle.
  • Established in 2010, MindHandle is an employee communications agency that helps companies attract and retain talent in large, distributed workforces.
  • Together with select leadership from MindHandle, Liquid Agency will help more brands actualize themselves through robust, flexible Ex aligned fully with Cx and Bx.
  • Liquid Agency is also a founding member of the Myrious Group, an expertise-driven agency holding company transforming the way modern brands are being built with the power of orchestration.

Claroty Secures $100 Million in Strategic Growth Financing

Retrieved on: 
Wednesday, March 6, 2024

NEW YORK, March 6, 2024 /PRNewswire/ -- Claroty, the cyber-physical systems protection company, today announced it has secured $100 million in strategic growth financing. Participants include lead equity investor Delta-v Capital, as well as AB Private Credit Investors at AllianceBernstein, Standard Investments, Toshiba Digital Solutions, SE Ventures, Rockwell Automation, and Silicon Valley Bank, a division of First Citizens Bank. Combined with Claroty's existing $635 million in funding to date, this new financing further establishes the company's leadership position in the critical infrastructure cybersecurity market.

Key Points: 
  • Up-round investment to accelerate vertical and regional expansion, product innovation, and strategic partnerships
    NEW YORK, March 6, 2024 /PRNewswire/ -- Claroty , the cyber-physical systems protection company, today announced it has secured $100 million in strategic growth financing.
  • Combined with Claroty's existing $635 million in funding to date, this new financing further establishes the company's leadership position in the critical infrastructure cybersecurity market.
  • The financing comes shortly after a momentous year for Claroty, which now works with 20% of the Fortune 100.
  • "The New York Corporate Banking team is excited to support Claroty with this new strategic growth financing," said Sameer Paul, Director of Silicon Valley Bank.