Loan

KPMG Announces Google Cloud Center of Excellence to Advance Responsible Adoption of Generative AI

Retrieved on: 
Wednesday, April 3, 2024
Cloud, Arvest Bank, Google Cloud, KPMG, Organization, Forecasting, Trust (social science), Partnership, Business, Loan, Strategic planning, AI, COE, Treasury management, Fortune 500, KPMG LLP, Workforce, Treasury, Sales

KPMG will bring Google Cloud technology to its workforce and build trusted GenAI solutions that accelerate business transformation for clients

Key Points: 
  • The expanded partnership features the establishment of a KPMG Google Cloud Center of Excellence (CoE) that will combine Google Cloud's leading AI technologies with KPMG's industry knowledge and deep functional expertise to support business transformation for enterprise clients.
  • The CoE will combine Gemini AI models, Vertex AI and other leading Google Cloud technology with KPMG industry and product expertise, to help enterprises drive and deploy generative AI innovation.
  • As part of the CoE, Google Cloud will work with KPMG to upskill KPMG professionals on Google Cloud AI technologies.
  • This will help rapidly boost existing GenAI skills and help KPMG further deliver generative AI solutions to drive innovation for KPMG clients and the firm itself.

AI Stocks in the Cloud - More Growth to Come

Retrieved on: 
Tuesday, April 2, 2024
Cloud, Supercluster, Artificial intelligence, LLM, Partnership, Minority, InfiniBand, UPS, Multilateral, Central processing unit, Organization, Loan, KSUM, Memory, Blue Yonder, News, SAP, AI, Cloud computing, Magnetar Capital, Growth, WKN, Genius, Graphics processing unit, Wayfinder, Total

Among the myriad applications of AI, the integration of AI into cloud computing has proven to be a game-changer, giving rise to the Cloud AI market.

Key Points: 
  • Among the myriad applications of AI, the integration of AI into cloud computing has proven to be a game-changer, giving rise to the Cloud AI market.
  • Leveraging its industry-leading partners, Cedarcross is poised to drive streamlined growth and innovation in the AI sector.
  • Supermicro, Inc., a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, just announced its latest portfolio to accelerate the deployment of generative AI.
  • Cost savings, which are a result of AI being used in cloud computing, are one of these benefits that stand out for efficiency."

Great Elm Capital Corp. Prices Public Offering of $30,000,000 of 8.50% Notes Due 2029

Retrieved on: 
Tuesday, April 9, 2024
City National Bank, Loan, PALM, Security agreement, Sale, Security (finance), Prospectus, Investment, Note, BEACH

The Company has also granted the underwriters a 30-day option to purchase up to an additional $4,500,000 aggregate principal amount of Notes to cover over-allotments, if any.

Key Points: 
  • The Company has also granted the underwriters a 30-day option to purchase up to an additional $4,500,000 aggregate principal amount of Notes to cover over-allotments, if any.
  • The closing of the transaction is subject to customary closing conditions, and the Notes are expected to be delivered on or about April 17, 2024.
  • Ladenburg Thalmann & Co. Inc., InspereX LLC, Janney Montgomery Scott LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.
  • The information in this press release and the preliminary prospectus is not complete and may be changed.

Great Elm Capital Corp. Announces Public Offering of Unsecured Notes

Retrieved on: 
Tuesday, April 9, 2024
City National Bank, Loan, PALM, Security agreement, Sale, Prospectus, Note, Investment, BEACH, Security (finance)

PALM BEACH GARDENS, Fla., April 09, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC) announced today the commencement of an underwritten public offering of unsecured notes due 2029 (the “Notes”).

Key Points: 
  • PALM BEACH GARDENS, Fla., April 09, 2024 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC) announced today the commencement of an underwritten public offering of unsecured notes due 2029 (the “Notes”).
  • The Notes are expected to be listed on The Nasdaq Global Market under the trading symbol “GECCI,” and to trade thereon within 30 days from the original issue date.
  • The interest rate and other terms of the Notes will be determined by negotiations between the Company and the underwriters.
  • Ladenburg Thalmann & Co. Inc., InspereX LLC, Janney Montgomery Scott LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.

Global Net Lease Announces $237 Million CMBS Re-Financing

Retrieved on: 
Monday, April 8, 2024
Risk, Loan, Bank, Acquisition, Bank of Montreal, KeyBank, CMBS, GNL, Barclays

NEW YORK, April 08, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that the Company completed a $237 million commercial mortgage-backed security loan (the “Loan”) secured by 20 U.S. industrial properties previously secured under the Company’s corporate credit facility.

Key Points: 
  • NEW YORK, April 08, 2024 (GLOBE NEWSWIRE) -- Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that the Company completed a $237 million commercial mortgage-backed security loan (the “Loan”) secured by 20 U.S. industrial properties previously secured under the Company’s corporate credit facility.
  • The lead lender for the Loan is Bank of Montreal and co-lenders are Barclays, KeyBank and Société Générale.
  • We are pleased with the strategic execution of this CMBS financing as the fixed rate debt lowers GNL’s existing cost of capital and improves our weighted average debt maturity.
  • Global Net Lease, Inc. (NYSE: GNL) is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe.

MannKind Repays Certain Debt Obligations

Retrieved on: 
Wednesday, April 3, 2024
MannKind Corporation, Note, Professional corporation, Patient, Loan agreement, Loan, Doctor of Pharmacy, Security (finance)

On April 1, 2024, MannKind made a payment to the lenders under the Loan Agreement of approximately $31.6 million, including a contractually obligated exit fee of $2.8 million and a prepayment fee of approximately $0.3 million, in full satisfaction of all of the Company’s debt obligations under the Loan Agreement, which would have matured on August 1, 2025.

Key Points: 
  • On April 1, 2024, MannKind made a payment to the lenders under the Loan Agreement of approximately $31.6 million, including a contractually obligated exit fee of $2.8 million and a prepayment fee of approximately $0.3 million, in full satisfaction of all of the Company’s debt obligations under the Loan Agreement, which would have matured on August 1, 2025.
  • In connection with the repayment of outstanding indebtedness by MannKind, all liens, mortgages and security interests in any assets or property securing the obligations under the Loan Agreement were automatically terminated and released and MannKind and its subsidiaries were automatically released from all guarantees.
  • Upon receipt of this consideration, all indebtedness under the Note was satisfied in full and all obligations under the Note were automatically terminated.
  • “Repaying the MidCap loan agreement eliminates our most expensive debt going forward and releases our assets from their security interests,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation.

InspireSemi Announces Secured Loans and Closing of Private Placement

Retrieved on: 
Monday, April 1, 2024
Creditor, TSX Venture Exchange, Funding, Exercise, Exchange, Loan, Minority, Loan agreement, HPC, AI, Finance Secretary (India), Advance, PV, Security (finance)

The Loans may be repaid by the Company prior to the Maturity Date at the Company’s option.

Key Points: 
  • The Loans may be repaid by the Company prior to the Maturity Date at the Company’s option.
  • The Loans are secured until repayment by a first ranking security granted by general security agreement (and guaranteed by all subsidiaries) on all of the present and future acquired assets of the Company and its subsidiaries.
  • The Company will, subject to the approval of the TSX Venture Exchange (the “Exchange”), issue a total of 48,911 Bonus Warrants to the Lenders.
  • The terms of the Loan Agreement provide that the Company may receive additional secured loans on the same terms up to a maximum amount of US$3,000,000.

UMortgage Midwest Launches Journey to Create More Accessible Homeownership Opportunities For Midwestern Homebuyers

Retrieved on: 
Tuesday, March 26, 2024
Growth, Learning, Loan, Real estate

Led by Branch Managers, Ravi Patel and Justin Allen, UMortgage Midwest boasts a team of 20 experienced Loan Originators serving homebuyers throughout Ohio, Kentucky, Indiana, and beyond.

Key Points: 
  • Led by Branch Managers, Ravi Patel and Justin Allen, UMortgage Midwest boasts a team of 20 experienced Loan Originators serving homebuyers throughout Ohio, Kentucky, Indiana, and beyond.
  • By merging, UMortgage Midwest will align in its strategy to better serve homebuyers and real estate professionals throughout the midwest.
  • With a unified approach to the way it serves its buyers and partners, UMortgage Midwest is eager to help create more life-changing opportunities through homeownership for local homebuyers.
  • If you’re interested in learning more about UMortgage’s and UMortgage Midwest’s mission to create life-changing opportunities through homeownership, please visit www.umortgage.com.

Surefire Local Secures Strategic Partnership with Sunflower Bank for Accelerated Growth

Retrieved on: 
Tuesday, April 9, 2024
ROI, Software as a service, Partnership, Software, Local, Asset-based lending, Marketing, Loan, Cryptocurrency

AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- GenNext Media, dba Surefire Local (www.surefirelocal.com), a leading provider of innovative marketing software for small, local businesses, announced the closing of a debt refinancing and expansion with Sunflower Bank. The funding will further develop Surefire Local's technology and sales operations. Through its marketing software, Surefire Local provides a platform for local businesses that helps them find new customers, engage them with targeted marketing campaigns, and save time to reinvest in their businesses. The company's expertise in bringing new technologies at affordable prices aligns perfectly with Sunflower Bank's commitment to innovation and customer-centric applications.

Key Points: 
  • AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- GenNext Media, dba Surefire Local ( www.surefirelocal.com ), a leading provider of innovative marketing software for small, local businesses, announced the closing of a debt refinancing and expansion with Sunflower Bank.
  • Through its marketing software, Surefire Local provides a platform for local businesses that helps them find new customers, engage them with targeted marketing campaigns, and save time to reinvest in their businesses.
  • This partnership opens up exciting opportunities for Surefire Local, including access to capital for growth initiatives and enhancing its financial stability.
  • "We're excited to announce our partnership with Surefire Local under our SaaS / Recurring Revenue platform within our Asset Based Lending group.

Flow Capital Announces Additional $2.3 Million Tranche of Non-Convertible Debenture Transaction

Retrieved on: 
Friday, March 22, 2024
Creditor, FW, Loan, Investment

TORONTO, March 22, 2024 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV:FW) (“Flow Capital” and “Company”), a leading provider of flexible growth capital and alternative debt solutions, is pleased to announce that it has completed a tranche of its previously disclosed non-convertible loan transaction in the principal amount of $2.3 million (the “Loans”).

Key Points: 
  • TORONTO, March 22, 2024 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV:FW) (“Flow Capital” and “Company”), a leading provider of flexible growth capital and alternative debt solutions, is pleased to announce that it has completed a tranche of its previously disclosed non-convertible loan transaction in the principal amount of $2.3 million (the “Loans”).
  • The Loans will be evidenced by unsecured, non-convertible debentures (the “Debentures”) issued by the Company to the Lenders pursuant to the terms of a debenture indenture entered between the Company and Olympia Trust Company, as debenture trustee.
  • The net proceeds of the Loans will be used by the Company to fund investments and for general corporate purposes.