Securitization

Octane Completes $400 Million Asset-Backed Securitization, Upsize from Initial $300 Million Target Issuance

Retrieved on: 
Thursday, June 1, 2023

NEW YORK, June 1, 2023 /PRNewswire/ -- Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has closed a $400 million securitization ("OCTL 2023-2") collateralized by its fixed-rate installment powersports loans issued through its in-house lender, Roadrunner Financial®, Inc.

Key Points: 
  • Due to significant investor demand, Octane was able to secure an upsize of $400 million for the transaction from an initial target issuance of $300 million.
  • The company continued to diversify its investor base by attracting several new investors through this issuance, while also maintaining the support of existing institutional investors.
  • ATLAS SP Partners acted as lead manager and structuring agent, with J.P. Morgan and Truist Securities serving as joint bookrunners.
  • This is not an offer, solicitation of an offer, recommendation or advice to buy or sell any security, financial product or instrument.

McDermott Adds Structured Finance Partner in New York

Retrieved on: 
Thursday, June 1, 2023

NEW YORK, June 1, 2023 /PRNewswire/ -- International law firm McDermott Will & Emery is pleased to announce the addition of Partner Jonathan Ching to the Firm's Transactions Practice Group in New York.

Key Points: 
  • NEW YORK, June 1, 2023 /PRNewswire/ -- International law firm McDermott Will & Emery is pleased to announce the addition of Partner Jonathan Ching to the Firm's Transactions Practice Group in New York.
  • "Clients continue to seek transactions in commodities, fintech and structured finance, three areas Jonathan has substantial experience navigating," said Harris Siskind , global head of the Firm's transactions practice.
  • Jonathan focuses his practice on structured transactions that involve derivatives, commodities and both digital and traditional asset classes.
  • Jonathan received his BA from the University of Southern California and his JD from Fordham University School of Law.

GZ6G Technologies Corp. Engages Successor Firm to Serve as Transfer Agent

Retrieved on: 
Friday, May 26, 2023

IRVINE, CA, May 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- GZ6G Technologies Corp. (OTCQB: GZIC) (Company, GZIC) has engaged Pacific Stock Transfer Company (a Securitize company) (“PST”) as its successor registered transfer agent to replace Continental Stock Transfer and Trust Company.

Key Points: 
  • IRVINE, CA, May 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- GZ6G Technologies Corp. (OTCQB: GZIC) (Company, GZIC) has engaged Pacific Stock Transfer Company (a Securitize company) (“PST”) as its successor registered transfer agent to replace Continental Stock Transfer and Trust Company.
  • On May 15, 2023, Continental Stock Transfer and Trust Company finalized the transfer of our shareholder records to PST.
  • PST was acquired by Securitize in 2022, becoming a top 10 U.S. transfer agent while maintaining unmatched customer service, accurate and timely transaction services and a second to none team of experienced professionals.
  • The expeditious response time and level of expertise PST can afford the Company and its shareholders will serve to enhance our corporate operations.

BriaCell Closes $4 Million Strategic Investment by Prevail Partners, LLC at US$8.63 per Share

Retrieved on: 
Friday, May 19, 2023

Pursuant to the Agreement, the Company issued 463,408 common shares (the “Shares”) to Prevail Partners (the “Issuance”) at a price per Share of US$8.63 for aggregate gross proceeds of US$4 million.

Key Points: 
  • Pursuant to the Agreement, the Company issued 463,408 common shares (the “Shares”) to Prevail Partners (the “Issuance”) at a price per Share of US$8.63 for aggregate gross proceeds of US$4 million.
  • “Contract Research Organizations (CROs) typically do not invest in small biotech companies.
  • Prevail Partner’s significant investment in BriaCell is a remarkable sign of confidence in our clinical plans and objectives,” stated Dr. William V. Williams, BriaCell’s President & CEO.
  • The Company intends to use the proceeds from the Investment for Contract Research Organization (CRO) clinical services and technologies for its upcoming pivotal study in advanced metastatic breast cancer.

Katten Names Female Investment Management Partner With Untraditional Career Path to Lead New York Office

Retrieved on: 
Thursday, May 18, 2023

Cohen has spent the majority of her career at Katten, which provided invaluable support after she returned from a multiyear hiatus to raise her family.

Key Points: 
  • Cohen has spent the majority of her career at Katten, which provided invaluable support after she returned from a multiyear hiatus to raise her family.
  • She succeeds Structured Finance and Securitization partner Chris DiAngelo, who has served as managing partner since 2013.
  • DiAngelo is credited with managing Katten's increased growth in New York, shepherding that office through the pandemic and guiding its move to a new space in Rockefeller Plaza last year.
  • Katten represents public and private companies in numerous industries, as well as a number of government and nonprofit organizations and individuals.

Securitize Expands Access to Hamilton Lane's Senior Credit Opportunities Fund via Polygon

Retrieved on: 
Thursday, May 4, 2023

Hamilton Lane launched the Senior Credit Opportunities Fund ("SCOPE") in October 2022, and is now making a portion of the vehicle accessible to individual investors via a feeder fund from Securitize.

Key Points: 
  • Hamilton Lane launched the Senior Credit Opportunities Fund ("SCOPE") in October 2022, and is now making a portion of the vehicle accessible to individual investors via a feeder fund from Securitize.
  • The new tokenized fund is expected to broaden access to senior private credit, which has historically been a stable strategy through up and down markets.
  • The new feeder fund is the second in a series of three Hamilton Lane products being made available on the Securitize platform, following the launch of the Hamilton Lane Equity Opportunities Securitize Fund V in January.
  • To learn more about the Securitize Feeder - Hamilton Lane Senior Credit Opportunities Fund, visit: https://scope.securitize.io/ .

SDNY General Crimes Unit Co-Chief Jordan Estes Joins Kramer Levin’s White Collar and Government Investigations Practice as Partner

Retrieved on: 
Tuesday, May 2, 2023

Jordan Estes has joined Kramer Levin’s New York office as a partner in the firm’s White Collar Defense and Government Investigations practice.

Key Points: 
  • Jordan Estes has joined Kramer Levin’s New York office as a partner in the firm’s White Collar Defense and Government Investigations practice.
  • View the full release here: https://www.businesswire.com/news/home/20230502005819/en/
    Jordan Estes has joined Kramer Levin’s New York office as a partner in the firm’s White Collar Defense and Government Investigations practice.
  • The expanded investigations team is already securing numerous representations, particularly in connection with Securities and Exchange Commission investigations into the banking crisis.
  • “I chose Kramer Levin in large part because of the firm’s extensive work on major trials and investigations,” Ms. Estes said.

Built Technologies Secures Investment From Citi

Retrieved on: 
Thursday, April 13, 2023

Built Technologies , one of the fastest growing construction and real estate software providers in the U.S., has announced a strategic investment from Citi through its SPRINT program.

Key Points: 
  • Built Technologies , one of the fastest growing construction and real estate software providers in the U.S., has announced a strategic investment from Citi through its SPRINT program.
  • Citi SPRINT (“Spread Products Investment Technologies”), the strategic investing arm of Citi’s Global Spread Products division (“GSP”), is part of Citi Institutional Strategic Investments (“ISI”).
  • “The investment from Citi SPRINT opens a new market opportunity for Built to gain traction with one of the largest U.S. financial institutions in the real estate industry,” said Chase Gilbert, CEO and Co-founder of Built.
  • “Our investment in Built Technologies extends this commitment by helping to further modernize our Financing and Securitization franchise.

KBRA Assigns Preliminary Ratings to Pagaya AI Debt Trust 2023-3

Retrieved on: 
Thursday, March 30, 2023

KBRA assigns preliminary ratings to two classes of notes issued by Pagaya AI Debt Trust 2023-3 (“PAID 2023-3”), a consumer loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to two classes of notes issued by Pagaya AI Debt Trust 2023-3 (“PAID 2023-3”), a consumer loan ABS transaction.
  • Pagaya Structured Products LLC is a 100% owned subsidiary of Pagaya US Holding Company LLC (formerly known as Pagaya Investments US LLC), which is a 100% owned subsidiary of Pagaya Technologies Ltd. (“Pagaya Technologies”), an Israeli corporation.
  • This transaction is the eighth publicly rated securitization sponsored by Pagaya Structured Products LLC (collectively with its affiliates, “Pagaya” or the “Company”).
  • Previously, Pagaya US Holding Company LLC served as sponsor for 16 securitizations of unsecured consumer assets.

SMBC Nikko Securities America, Inc. Names Steven Feinberg Head of Credit for Fixed Income Sales & Trading Group

Retrieved on: 
Thursday, March 23, 2023

SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced the appointment of Steven Feinberg as Head of Credit for the Fixed Income Sales & Trading Group, based in New York.

Key Points: 
  • SMBC Nikko Securities America, Inc., a member of SMBC Group, today announced the appointment of Steven Feinberg as Head of Credit for the Fixed Income Sales & Trading Group, based in New York.
  • He also works in partnership with the Capital Markets team to align secondary trading priorities and enhance SMBC’s value to clients within its primary markets.
  • Steven reports to Masahito Nonaka, Deputy President of SMBC Nikko Securities America, Inc., who said: “Steven brings a tremendous wealth of fixed income and credit experience to our organization, having served in various senior leadership roles at large global banks.
  • We’re pleased to have Steven join SMBC Nikko and look forward to our continued growth in these businesses.