Senior debt

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in B. Riley Financial, Inc. of Class Action Lawsuit and Upcoming Deadlines – RILY

Retrieved on: 
Saturday, March 23, 2024
FRG, Franchise Group, Prior, Crime, District court, Defendant, Social media, Ext, Senior debt, News, Security (finance), Bloomberg, Senior, Complaint, The Vitamin Shoppe, Pet Supplies Plus, Nomura, Pomerantz, Debt-to-GDP ratio, Nomura Holdings, Action Replay, Court, Person, Cryptocurrency

NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against B. Riley Financial, Inc. (“B.

Key Points: 
  • NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against B. Riley Financial, Inc. (“B.
  • Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
  • In May 2023, B. Riley entered into an agreement to assist Kahn in leading a management buyout of FRG.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Steel Connect Reports Second Quarter Fiscal 2024 Financial Results

Retrieved on: 
Friday, March 15, 2024
Supply Chain Management, Retail, Transport, Logistics, Income tax, Capital expenditure, Electronics, Investment, Umpqua Holdings Corporation, Senior debt, Steel Connect, Cryptocurrency

Net revenue for the second quarter decreased $7.7 million, or 15.2%, as compared to the same period in the prior fiscal year.

Key Points: 
  • Net revenue for the second quarter decreased $7.7 million, or 15.2%, as compared to the same period in the prior fiscal year.
  • Total cost of revenue decreased by $6.0 million or 16.0% for the second quarter, as compared to the same period in the prior fiscal year.
  • Net income for the second quarter increased $5.9 million, as compared to the same period in the prior fiscal year.
  • Adjusted EBITDA decreased $0.9 million, or 20.1%, for the second quarter as compared to the same period in the prior fiscal year, primarily due to lower operational net income.

AM Best Releases Revised Best’s Credit Rating Methodology and Available Capital and Insurance Holding Company Analysis

Retrieved on: 
Thursday, January 18, 2024
Insurance, Professional Services, Credit, CCMG, Holding company, ALL, Notching, Senior debt, EPS, Capital, Data, Nature, Research, News, AM Best, Risk management

AM Best has released its revised Best’s Credit Rating Methodology (BCRM) and the criteria procedure, “Available Capital and Insurance Holding Company Analysis” (formerly known as “Available Capital and Holding Company Analysis”).

Key Points: 
  • AM Best has released its revised Best’s Credit Rating Methodology (BCRM) and the criteria procedure, “Available Capital and Insurance Holding Company Analysis” (formerly known as “Available Capital and Holding Company Analysis”).
  • The changes are primarily related to the notching used to derive the Long-Term Issuer Credit Rating (Long-Term ICR) of an insurance holding company.
  • AM Best does not expect that the implementation of the revisions to “Available Capital and Insurance Holding Company Analysis” will result in changes to any published ratings.
  • AM Best received five comments related to BCRM and the criteria procedure, “Available Capital and Insurance Holding Company Analysis,” during the public consultation period through the methodology in-box.

KBRA Affirms and Assigns Rating on Senior Notes and MRPS Issued by Kayne Anderson Energy Infrastructure Fund, Inc.

Retrieved on: 
Wednesday, January 10, 2024
Banking, Other Professional Services, Professional Services, Finance, Debt-to-GDP ratio, European, KBRA, Policy, Jules Kroll, ESG, Fund, Senior debt, Disclosure, Note, Security (finance)

KBRA affirms the ‘AAA’ rating to the outstanding Senior Notes and affirms the ‘A+’ ratings to the outstanding Mandatory Redeemable Preferred Shares issued by Kayne Anderson Energy Infrastructure Fund, Inc. (“KYN” or the “Fund”).

Key Points: 
  • KBRA affirms the ‘AAA’ rating to the outstanding Senior Notes and affirms the ‘A+’ ratings to the outstanding Mandatory Redeemable Preferred Shares issued by Kayne Anderson Energy Infrastructure Fund, Inc. (“KYN” or the “Fund”).
  • Concurrently, KBRA assigns the ‘AAA’ rating to the additional Senior Note (Series VV) with an aggregate size of $25 million.
  • The Fund’s investment strategy focuses on equity securities of energy infrastructure companies.
  • This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union and by Kroll Bond Rating Agency UK Limited for use in the UK.

Steel Connect Reports First Quarter Fiscal 2024 Financial Results

Retrieved on: 
Thursday, December 14, 2023
Supply Chain Management, Retail, Transport, Logistics, Supply chain finance, Senior debt, Umpqua Holdings Corporation, Investment, Electronics, Capital expenditure, Supply, Steel Connect, Supply chain, Income tax, Cryptocurrency, Security (finance), Life insurance

Net revenue for the first quarter decreased $10.0 million, or 19.5%, as compared to the same period in the prior fiscal year.

Key Points: 
  • Net revenue for the first quarter decreased $10.0 million, or 19.5%, as compared to the same period in the prior fiscal year.
  • Gross profit for the first quarter decreased by approximately $2.8 million as compared to the same period in the prior fiscal year, primarily driven by lower sales volume discussed above.
  • Selling, general and administrative ("SG&A") expenses during the first quarter decreased by approximately $1.6 million as compared to the same period in the prior fiscal year.
  • Net income for the first quarter decreased $0.5 million, as compared to the same period in the prior fiscal year.

Steel Connect Reports Fourth Quarter Fiscal 2023 Financial Results

Retrieved on: 
Wednesday, November 8, 2023
Supply Chain Management, Retail, Sale, SPLP, Supply chain, EBITDA, Corporation, Convertible, Steel Connect, Umpqua Holdings Corporation, Supply, Senior debt, Income tax, Capital expenditure, Electronics, Aerojet, Exchange, Capital, Video game, Cryptocurrency, Pharmaceutical industry, Airline, Life insurance

Fluctuations in foreign currency exchange rates had an insignificant impact on SG&A expenses for the fiscal year ended July 31, 2023, as compared to the prior fiscal year.

Key Points: 
  • Fluctuations in foreign currency exchange rates had an insignificant impact on SG&A expenses for the fiscal year ended July 31, 2023, as compared to the prior fiscal year.
  • The Exchange Transaction closed on May 1, 2023, and as such, there was no activity for the fourth quarter or fiscal year ended July 31, 2022.
  • Total interest expense for the fiscal year ended July 31, 2023 remained relatively flat compared to the fiscal year ended July 31, 2022.
  • Other gains, net for the fiscal year ended July 31, 2023 and the fiscal year ended July 31, 2022 were $11.3 million and $4.1 million, respectively.

Audax Private Debt Joins iCapital Marketplace

Retrieved on: 
Tuesday, June 27, 2023
Banking, Other Professional Services, Professional Services, Finance, Senior debt, Consumer, Partnership, EBITDA, Investment, Audax, Security (finance)

Audax Private Debt (“Audax”), a leading provider of financing solutions for middle market private equity sponsors, announced today the firm’s participation in the iCapital Marketplace, a platform launched by iCapital in June that connects financial advisors and their clients with a broad array of alternative investment offerings from select asset managers.

Key Points: 
  • Audax Private Debt (“Audax”), a leading provider of financing solutions for middle market private equity sponsors, announced today the firm’s participation in the iCapital Marketplace, a platform launched by iCapital in June that connects financial advisors and their clients with a broad array of alternative investment offerings from select asset managers.
  • iCapital Marketplace provides an “all-digital” experience to wealth managers and aims to bridge the structural divide that has historically prevented advisors from making alternative investments accessible to their clients.
  • “For the past 20-plus years, Audax Private Debt has built a track record supporting private equity-backed companies with a range of financing solutions,” noted Mike McGonigle, Head of Senior Debt at Audax Private Debt.
  • Since inception, Audax has invested over $34 billion across more than 1,100 companies in support of over 275 private equity sponsors.

Steel Connect Reports Third Quarter Fiscal 2023 Financial Results

Retrieved on: 
Monday, June 12, 2023
Supply Chain Management, Retail, Capital expenditure, Electronics, Senior debt, Income tax, Sale, EBITDA, Umpqua Holdings Corporation, Supply chain, Supply chain surplus, AK Steel Holding, Corporation, Steel Connect, Supply, Pharmaceutical industry, Cryptocurrency, Life insurance, Health insurance

During the nine months ended April 30, 2023, net revenue decreased by approximately $1.9 million as compared to the same period in the prior year.

Key Points: 
  • During the nine months ended April 30, 2023, net revenue decreased by approximately $1.9 million as compared to the same period in the prior year.
  • During the three months ended April 30, 2023 and 2022, the Company recorded Other gains, net of $4.5 million and $2.2 million, respectively.
  • During the nine months ended April 30, 2023 and 2022, the Company recorded Other gains, net of $4.9 million and $1.6 million, respectively.
  • Adjusted EBITDA increased $13.8 million, or 416.7%, for the nine months ended April 30, 2023 as compared to the same period in the prior year.

Daktronics, Inc. Strengthens Financial Position by Securing $100 Million In Capital Commitments

Retrieved on: 
Thursday, May 11, 2023
Senior debt, JPMorgan Chase, Note, Winthrop, Vinson & Elkins, SOFR, Sale, Committee, Jefferies Group, Annual general meeting, Growth, Bank, Security (finance), Daktronics, U.S. Bancorp

In addition, Daktronics announced it has closed a $25 million convertible debt financing agreement (the “Junior Capital Financing”) with major shareholder Alta Fox Capital Management, LLC (together with its affiliates, “Alta Fox”).

Key Points: 
  • In addition, Daktronics announced it has closed a $25 million convertible debt financing agreement (the “Junior Capital Financing”) with major shareholder Alta Fox Capital Management, LLC (together with its affiliates, “Alta Fox”).
  • JPMorgan Chase’s $75 million New Senior Debt Facility has replaced the Company’s $35 million credit facility with U. S. Bank National Association (“U.S.
  • The Committee is confident we and our advisors thoroughly explored all alternatives and obtained the best possible outcome in terms of flexibility and overall cost of capital.
  • We also appreciate that Alta Fox has demonstrated its confidence in Daktronics’ path forward by committing additional capital to the Company.

Steel Connect Reports Second Quarter Fiscal 2023 Financial Results

Retrieved on: 
Wednesday, March 15, 2023
Supply Chain Management, Retail, Capital expenditure, Electronics, Supply, Singapore dollar, Senior debt, Supply chain, Supply chain surplus, EBITDA, Umpqua Holdings Corporation, Steel Connect, Income tax, Cryptocurrency, Life insurance

Net revenue from continuing operations for the second quarter decreased $3.5 million, or 6.5%, as compared to the same period in the prior year.

Key Points: 
  • Net revenue from continuing operations for the second quarter decreased $3.5 million, or 6.5%, as compared to the same period in the prior year.
  • Net revenue from continuing operations for the six months ended January 31, 2023 increased $3.5 million, or 3.5%, as compared to the same period in the prior year.
  • Fluctuations in foreign currency exchange rates had an insignificant impact on Supply Chain's gross margin for the six months ended January 31, 2023.
  • Adjusted EBITDA increased $9.5 million, or 400.3%, for the six months ended January 31, 2023 as compared to the same period in the prior year.