Kroll

Hildene Capital Completes $333 Million Non-QM Loan Securitization

Retrieved on: 
Thursday, November 9, 2023
Professional Services, Finance, FICO, Hildene, Goldman Sachs, Mezzanine, Fitch, Kroll, Cerberus Capital Management, AAA, BBB, CrossCountry, CCM, Security (finance), Bank

CROSS 2023-H2 offered five tranches with four senior bonds paying principal pro rata and a sequential mezz bond.

Key Points: 
  • CROSS 2023-H2 offered five tranches with four senior bonds paying principal pro rata and a sequential mezz bond.
  • “We are pleased to scale our relationship with CrossCountry Mortgage through the close of CROSS 2023-H2,” said Justin Gregory, Portfolio Manager at Hildene.
  • The relationship provides Hildene with exclusive access to scalable, high credit quality non-QM loans, which Hildene and CCM collaborate to securitize.
  • CROSS 2023-H2 is Hildene’s largest securitization of non-QM loans, following a $232.9 million securitization of CROSS 2023-H1 in July 2023.

Rite Aid Receives Court Approval of "First Day" Motions to Support Business Operations

Retrieved on: 
Tuesday, October 17, 2023
Pharmaceutical, Other Retail, Finance, General Health, Health, Convenience Store, Professional Services, Retail, Elixir, Bankruptcy, Chapter 11, Title 11, United States Code, OTC, LLP, Rite, Court, Rite Aid, Kroll, Alvarez and Marsal, Kirkland & Ellis, United States bankruptcy court, Pharmacy, Sale, Guggenheim Partners

The Court granted interim approval to access up to $3.45 billion in debtor-in-possession financing from certain of its lenders.

Key Points: 
  • The Court granted interim approval to access up to $3.45 billion in debtor-in-possession financing from certain of its lenders.
  • This financing is expected to provide sufficient liquidity to support the Company throughout this process.
  • “We are pleased to have received Court approval of these critical First Day motions, which will enable Rite Aid to continue serving our customers and meeting their pharmacy needs throughout this process,” said Jeffrey S. Stein, Chief Executive Officer and Chief Restructuring Officer of Rite Aid.
  • Accordingly, the proposed transaction is subject to higher and better offers, court approval and other customary conditions.

Rite Aid Takes Steps to Accelerate Transformation and Position Company for Long-Term Success

Retrieved on: 
Monday, October 16, 2023
General Health, Health, Retail, Pharmaceutical, Convenience Store, Elixir, Bankruptcy, Chapter 11, Title 11, United States Code, NYSE, LLP, Prescription, Pharmacy, Rite, Court, Rite Aid, Kroll, Interim, Alvarez and Marsal, Kirkland & Ellis, United States bankruptcy court, Sale, Guggenheim Partners, RAD, Cryptocurrency, Practice of law, Real estate, Security (finance)

Rite Aid Corporation (NYSE: RAD) (“Rite Aid” or the “Company”) today announced it has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Company to accelerate its ongoing business transformation.

Key Points: 
  • Rite Aid Corporation (NYSE: RAD) (“Rite Aid” or the “Company”) today announced it has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Company to accelerate its ongoing business transformation.
  • In connection with this, Rite Aid has initiated a voluntary court-supervised process under Chapter 11 of the U.S. Bankruptcy Code.
  • In connection with this process, Rite Aid has received a commitment for $3.45 billion in new financing from certain of its lenders.
  • Mr. Stein added, “The court-supervised process provides Rite Aid with legal tools to accelerate our footprint optimization in an efficient and orderly manner.

Kroll Appointed to Help Safeguard Byju’s Pte. Ltd. and Great Learning Education Pte. Ltd

Retrieved on: 
Wednesday, October 11, 2023
Environmental, Social and Governance (ESG), Other Education, Professional Services, Asset Management, Education, Great Learning, Northwest Educational School District 189, PTE, BPL, Kroll, Growth, Exercise, Great

Limited (“Kroll”) today announced that Mr. Cosimo Borrelli and Mr. Jason Aleksander Kardachi were appointed to safeguard the charged assets of Great Learning Education Pte.

Key Points: 
  • Limited (“Kroll”) today announced that Mr. Cosimo Borrelli and Mr. Jason Aleksander Kardachi were appointed to safeguard the charged assets of Great Learning Education Pte.
  • Kroll is working closely with the management of Great Learning and Northwest Education to ensure the continued delivery of high-quality learning experiences and is committed to the smooth operations and continued growth of their business.
  • Mr. Mohan Lakhamraju (“Mohan”), Founder and Chief Executive Officer of Great Learning continues his leadership of the Great Learning business and management team.
  • Questions about the appointment relating to Great Learning or Northwest Education may be directed to the Kroll team at the email addresses below.

Focus Brands Appoints New Supply Chain, Customer Engagement and Digital Leaders

Retrieved on: 
Monday, October 16, 2023
Focus Brands, Customer, Customer experience, Advertising, AI, Strategic planning, Kroll, Engagement, Human voice, Digital, The Home Depot, Electronics, Parvati, Voice of the customer, SVP, Ernst & Young, Supply, IHOP, Marketing, McAlister, Ernst, Corporate finance, Strategic management, IHG Hotels & Resorts, Applebee's, IHG, Supply chain, Central Group, Manuel, Sales, Retail

ATLANTA, Oct. 16, 2023 /PRNewswire/ -- Focus Brands® , parent company of iconic brands including Auntie Anne's® , Carvel® , Cinnabon® , Jamba® , McAlister's Deli® , Moe's Southwest Grill® and Schlotzsky's® , today announced the addition of three new leaders to its supply chain, digital, and customer engagement functions.

Key Points: 
  • ATLANTA, Oct. 16, 2023 /PRNewswire/ -- Focus Brands® , parent company of iconic brands including Auntie Anne's® , Carvel® , Cinnabon® , Jamba® , McAlister's Deli® , Moe's Southwest Grill® and Schlotzsky's® , today announced the addition of three new leaders to its supply chain, digital, and customer engagement functions.
  • More importantly, we're investing in the right talent to build industry-best technology and supply chain capabilities," said Jim Holthouser, CEO of Focus Brands.
  • He will be responsible for overseeing the supply chain, distribution, logistics and quality assurance functions for all seven brands in the Focus Brands portfolio globally.
  • Urvi Patel has been promoted to Focus Brands' Executive Leadership Team and named SVP of Customer Experience and Engagement, leading customer engagement and loyalty, branded currency, revenue management, insights and digital experience.

Capstone Green Energy Transitions to OTC Expert Market Following Nasdaq Delisting

Retrieved on: 
Monday, October 9, 2023
Other Energy, Environment, Utilities, Alternative Energy, Green Technology, Energy, Chapter 11, Title 11, United States Code, OTC, Common stock, Bankruptcy, Bank statement, Kroll, Interim, OTC Markets Group, United States bankruptcy court, Assignment, International, Security (finance), Cryptocurrency, Capstone

Capstone Green Energy Corporation (OTC: CGRNQ) (the Company or Capstone) received FINRA’s Notification of the Assignment of an Over-the-Counter Quoting and Trading Symbol CGRNQ for the Common Stock of Capstone Green Energy Corp.

Key Points: 
  • Capstone Green Energy Corporation (OTC: CGRNQ) (the Company or Capstone) received FINRA’s Notification of the Assignment of an Over-the-Counter Quoting and Trading Symbol CGRNQ for the Common Stock of Capstone Green Energy Corp.
  • Following this development, the Company has transitioned to trading on the OTC Expert Market, where it can be found under the ticker symbol CGRNQ.
  • Nasdaq delisted Capstone (CGRN), and trading in the Company’s common stock on the Nasdaq was suspended, effective on October 5, 2023.
  • Capstone will continue to trade on an over-the-counter (OTC) market, specifically OTC Markets’ “Expert Market” tier.

Mod Op Expands Data & AI Expertise with Strategic Acquisition of dPrism

Retrieved on: 
Tuesday, October 3, 2023
Marketing, Intelligence, Privacy, B2C, Creativity, Modulo, President, Baha Mar, ALM, Acquisition, Investment, Kroll, ExxonMobil, Growth, Merck, AI, Environment, Risk and strategic consulting, KPI-driven code analysis, Automation, Data science, Video game, Sales

With the acquisition, Mod Op expands its fast-growing data and technology capabilities for brands, including in the area of artificial intelligence.

Key Points: 
  • With the acquisition, Mod Op expands its fast-growing data and technology capabilities for brands, including in the area of artificial intelligence.
  • With a focus on providing actionable insights to its clients, dPrism turns growth strategy into execution and profitable results.
  • Effective immediately, dPrism has been integrated into Mod Op and its services are now offered under the newly launched division, Mod Op Strategic Consulting.
  • “Partnering with dPrism and the launch of Mod Op Strategic Consulting simply reinforces our mission,” added Bertrand.

SVB Financial Group Completes Sale of Investment Banking Business to Management Team Group

Retrieved on: 
Monday, October 2, 2023
Centerview Partners, Bankruptcy, SVB Securities, Chapter 11, Title 11, United States Code, Baupost Group, Sale, Oliver Cromwell, Acquisition, SVB, Kroll, Alvarez and Marsal, Sullivan & Cromwell, United States bankruptcy court, Silicon, Pink, Financial adviser

SANTA CLARA, Calif., Oct. 2, 2023 /PRNewswire/ -- SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has completed the sale of its investment banking business, SVB Securities LLC (now named Leerink Partners LLC), to the management team bidder group led by Jeff Leerink, Leerink Partners' Chief Executive Officer and Founder, and backed by funds managed by The Baupost Group L.L.C.

Key Points: 
  • SANTA CLARA, Calif., Oct. 2, 2023 /PRNewswire/ -- SVB Financial Group (Pink Sheets: SIVBQ) today announced that it has completed the sale of its investment banking business, SVB Securities LLC (now named Leerink Partners LLC), to the management team bidder group led by Jeff Leerink, Leerink Partners' Chief Executive Officer and Founder, and backed by funds managed by The Baupost Group L.L.C.
  • As previously announced, the management-led buyout was selected and approved as the successful bid for the investment banking business following a competitive bidding process conducted under procedures approved by the U.S. Bankruptcy Court for the Southern District of New York.
  • MoffettNathanson LLC, a sell-side research business owned by SVB Financial Group, was not included in the transaction and remains part of SVB Financial Group.
  • Centerview Partners LLC is serving as financial advisor, Sullivan & Cromwell LLP is serving as legal counsel and Alvarez & Marsal is serving as the restructuring advisor to SVB Financial Group as debtor-in-possession.

Capstone Green Energy Enters into Transaction Support Agreement with Senior Secured Lender

Retrieved on: 
Thursday, September 28, 2023
Other Energy, Utilities, Technology, Batteries, Alternative Energy, Energy, Software, LLP, Interim, Bankruptcy, Letter, Plan, International, Chapter 11, Title 11, United States Code, Debtor, Calendar, Delisting, United States Bankruptcy Court for the Southern District of New York, Carbon, Notification, Goldman Sachs, Sumathi Best Television Current Reporting Award, Common stock, Kroll, Hearing, Bankruptcy Code, Webcast, United States bankruptcy court, Security (finance), General Motors Chapter 11 reorganization, Insolvency and Bankruptcy Code, 2016, TSA, Exit consent, Cryptocurrency, Capstone

Subject to Bankruptcy Court approval, this "new money" financing will provide liquidity to support continued operations during the Chapter 11 process.

Key Points: 
  • Subject to Bankruptcy Court approval, this "new money" financing will provide liquidity to support continued operations during the Chapter 11 process.
  • "The significant agreement and investment of our senior secured lender demonstrates its support of the Company and our long-term strategy," said Mr. Flexon.
  • At the conclusion of the presentation, Capstone management will conduct a question and answer session to allow financial analysts the chance to ask questions.
  • In addition, Capstone will be offering an opportunity for the broader audience to submit their questions online while the broadcast is live.

CyberCatch Announces Strategic Partnership with IdeaHub Solutions Which Commits To Marketing Investment and Attainment of 20,000 customers in Asia-Pacific Region to Meet Cybersecurity Demand

Retrieved on: 
Thursday, September 28, 2023
Partnership, Organization, CYBE, The Company, SAN, Kroll, Artificial intelligence, Incident, Medical device, Drug, Consultant

Under the partnership, IdeaHub Solutions is committing to US $300,000 to market CyberCatch solutions in Asia-Pacific region, with an emphasis in Philippines, Indonesia, Malaysia, Singapore and Thailand, and attain 20,000 customers within next two years.

Key Points: 
  • Under the partnership, IdeaHub Solutions is committing to US $300,000 to market CyberCatch solutions in Asia-Pacific region, with an emphasis in Philippines, Indonesia, Malaysia, Singapore and Thailand, and attain 20,000 customers within next two years.
  • "CyberCatch has developed a highly effective solution-set and IdeaHub Solutions is thrilled to commit US $300,000 to market and bring the innovative solution-set to Asia-Pacific region.
  • It is a must-have solution, and timing is optimal for the Asia-Pacific market," said Chito Lucero, founder and CEO, IdeaHub Solutions.
  • "CyberCatch is delighted to partner with IdeaHub Solutions to provide our unique, AI-enabled continuous cybersecurity compliance and risk mitigation solution-set to customers in Asia-Pacific.