The Borrowers

Pelorus Equity Group Closes US$17.3 Million Debt Financing with Vassar Acquisitions Property Management, LLC to Support Its Cannabis Operating Entity Canapa Valley Farms’ Growth

Retrieved on:

Tuesday, November 15, 2022

SOFR, Long Valley Farm, Partnership, Great Lakes, Sale, The Borrowers, Loan, CPG, Acquisition, Drug, Bank, Pelorus

Proceeds from the Loan, which closed on October 27, 2022, will support Canapa Valley Farms buildout of its state-of-the-art 90,000 sq.

Key Points:

Proceeds from the Loan, which closed on October 27, 2022, will support Canapa Valley Farms buildout of its state-of-the-art 90,000 sq.
Our financing with Pelorus is an important component in getting our project complete and facility online, said Canapa Valley Farms Manager Frank DeNardo.
We look forward to expanding Canapa Valley Farms operations in Michigan and delivering high-quality cannabis products to consumers in the coming year.
The entire team at Pelorus, from the term sheet to the closing, was great to deal with, added Canapa Valley Farms Corporate Counsel Kaveh Kashef.

New Policy Interventions Can Put Homeownership Within Reach for Black Households with Student Loan Debt

Retrieved on:

Thursday, November 10, 2022

The Student Loan Debt and Access to Homeownership for Borrowers of Color report notes that evidence directly correlating low homeownership rates to student loans is weak.

Key Points:

The Student Loan Debt and Access to Homeownership for Borrowers of Color report notes that evidence directly correlating low homeownership rates to student loans is weak.
Black student loan borrowers are likely to have lower credit scores, which themselves are a product of difficulty repaying student loans, but also medical and utility debt.
More lenient treatment of student debt could lead to incremental improvement in the racial homeownership gap between Black and White households.
In some ways, the program may make homeownership more sustainable for student loan borrowers, but it does not help more student loan borrowers access homeownership to begin with.

GoDaddy Inc. Completes Refinancing of Tranche B-2 Term Loans and Revolving Credit Facility

Retrieved on:

Thursday, November 10, 2022

Terms used, but not defined in this news release are as defined in the Credit Agreement and amended by the Sixth Amendment as filed with the Securities and Exchange Commission.

Key Points:

Terms used, but not defined in this news release are as defined in the Credit Agreement and amended by the Sixth Amendment as filed with the Securities and Exchange Commission.
The Sixth Amendment provides for (i) a new $1,770 million tranche of term loans maturing in 2029 (the "Replacement Term Loans"), the proceeds of which were used to refinance all outstanding Tranche B-2 Term Loans, and (ii) a new revolving credit facility of $1,000 million maturing in 2027, which replaced the Borrowers' existing revolving commitments of $600 million.
The amortization rate for the Replacement Term Loans is 1.00% per annum and the first installment is payable on March 31, 2023.
The initial Applicable Margin is (i) 3.25% for the Replacement Term Loans that are Secured Overnight Financing Rate ("SOFR") Loans, (ii) 2.25% for the Replacement Term Loans that are ABR Loans, (iii) 1.50% for such new revolving commitments for loans that are SOFR Loans and (iv) 0.50% for such new revolving commitments for loans that are ABR Loans.

Creative Realities Inc. Secures $2 Million Funding to Enhance and Expand Industry-Leading Automotive Software Support Platform

Retrieved on:

Friday, November 4, 2022

The Company has secured this loan to fund an unplanned and extraordinary growth opportunity associated with its automotive and vehicular dealership software platform.

Key Points:

The Company has secured this loan to fund an unplanned and extraordinary growth opportunity associated with its automotive and vehicular dealership software platform.
The Company intends to utilize the proceeds to expand and enhance this existing platform in conjunction with a global expansion opportunity with one of the premier OEM dealership networks in the world.
The expanded commercialization is projected to generate incremental subscription (SaaS)-based annual recurring revenue (ARR) of up to $5 million in 2024.
Mr. Mills concluded, Clearly, the support that we received from that investor is representative of the confidence it has in the Company.

Wolters Kluwer Expert Examines the Threats to Biden's Student Loan Forgiveness Program and Analyzes the Potential State Income Taxation for Borrowers

Retrieved on:

Friday, November 4, 2022

NEW YORK, Nov. 4, 2022 /PRNewswire/ --

Key Points:

While the American Rescue Plan Act of 2021 (ARPA) ensures that this debt forgiveness is not subject to federal income taxes, some states are still looking to impose state income taxes.
The map highlights states that will tax forgiven student debt, states that will not, and states that may do so.
Some opponents of the program have even based their legal challenges on this potential state taxation.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

Crowd Capital Launches Funding Round on Wefunder

Retrieved on:

Thursday, November 3, 2022

CEO, Loan, Financial management, Acquisition, Technology, Literacy, Software as a service, Capital, Thryv, Wefunder, Partnership, The Borrowers, Bank, Security (finance), Debtor

MIAMI, Nov. 3, 2022 /PRNewswire/ -- Today, Crowd Capital announced the launch of its crowdfunding campaign in partnership with Wefunder. The capital raised will fuel the next stage of product development for their cloud-based SaaS platform, thryv™️, and accelerate customer acquisition.

Key Points:

MIAMI, Nov. 3, 2022 /PRNewswire/ -- Today, Crowd Capital announced the launch of its crowdfunding campaign in partnership with Wefunder .
Crowd Capital is building the first borrower-centric digital empowerment platform for residential mortgages.
"I founded Crowd Capital to create a better solution that will improve the Borrower and Loan Servicer relationship," said Christian Rotter, Founder and CEO.
Crowd Capital is required to disclose they're 'testing the waters' to gauge interest in an offering under Regulation Crowdfunding.

ePlus Expands Credit Facility

Retrieved on:

Tuesday, November 1, 2022

HERNDON, Va., Nov. 1, 2022 /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) a leading provider of technology and financing solutions, today announced that its wholly-owned subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the "Borrowers") recently entered into an amendment to their credit agreement with their lenders (the "Lenders") for which Wells Fargo Commercial Distribution Finance Corporation ("WFCDF") acts as administrative agent. The credit facility, as modified by the amendment, consists of a discretionary senior secured floorplan facility in favor of the Borrowers in the aggregate principal amount of up to $425 million, an increase from $375 million, together with a sublimit for a discretionary senior secured revolving credit facility for up to $150 million, an increase from $100 million. In addition, the amendment converted all of the Borrower's loans from the Lenders based on a LIBOR rate to a Term SOFR rate.

Key Points:

The credit facility, as modified by the amendment, consists of a discretionary senior secured floorplan facility in favor of the Borrowers in the aggregate principal amount of up to $425 million, an increase from $375 million, together with a sublimit for a discretionary senior secured revolving credit facility for up to $150 million, an increase from $100 million.
The increase and adjustments to our credit facility will allow us to continue to facilitate our customers' digital transformation with our leading security, cloud, data center, networking, collaboration solutions and services," said Elaine Marion, chief financial officer.
ePlus has an unwavering and relentless focus on leveraging technology to create inspired and transformative business outcomes for its customers.
ePlus, Where Technology Means More, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.

GoDaddy Inc. Announces Refinance of Tranche B-2 Term Loans and Revolving Credit Facility

Retrieved on:

Friday, October 21, 2022

People, News, U.S. Securities and Exchange Commission, GoDaddy, The Company, LLC, NYSE, Multimedia, Goal, Company, The Borrowers, Credit agreements in South Africa, Second Amendment to the United States Constitution, Phrase, Forward-looking statement, Credit, COVID-19, View

The foregoing transactions are subject to customary closing conditions and are anticipated to close in the fourth quarter of 2022.

Key Points:

The foregoing transactions are subject to customary closing conditions and are anticipated to close in the fourth quarter of 2022.
GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses.
People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person.
GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7.

Pelorus Equity Group Closes US$45.5 Million Debt Financing with TerrAscend

Retrieved on:

Wednesday, October 12, 2022

NEWPORT BEACH, Calif., Oct. 12, 2022 (GLOBE NEWSWIRE) -- Pelorus Equity Group (Pelorus or the Company), the leading provider of commercial real estate loans for the cannabis sector, is pleased to announce the closing of its US$45.5M debt financing agreement (the Loan) with TerrAscend Corp .

Key Points:

NEWPORT BEACH, Calif., Oct. 12, 2022 (GLOBE NEWSWIRE) -- Pelorus Equity Group (Pelorus or the Company), the leading provider of commercial real estate loans for the cannabis sector, is pleased to announce the closing of its US$45.5M debt financing agreement (the Loan) with TerrAscend Corp .
(TerrAscend) (CSE: TER) (OTCQX: TRSSF), and its subsidiaries, TerrAscend NJ, LLC and HMS Hagerstown, LLC (together the Borrowers).
With this agreement, we are excited to help fuel TerrAscends growth and long-term business goals, said Dan Leimel , CEO of Pelorus Equity Group and manager of the Pelorus Fund.
We really enjoyed working with the TerrAscend team on our first deal together they were great throughout the entire process, said Pelorus Equity Group Managing Partner Travis Goad.

Premier NFT Lending Platform Arcade.xyz Launches Redesigned V2 with New Functionality for Lenders and Borrowers

Retrieved on:

Thursday, August 18, 2022

UI, NFT, SAN, The Borrowers, Dapp, Collection, Non-fungible token, APRS, Industry, Daos, Decentralized finance, Video game console, Credit, Bank, Arcade

SAN FRANCISCO, Aug. 18, 2022 /PRNewswire-PRWeb/ -- Arcade.xyz, the leading decentralized lending marketplace for NFT collateral, launches Arcade V2, which features upgrades to the underlying protocol and an app redesign.

Key Points:

Arcade.xyz iterates on the industry leading NFT lending and borrowing platform with a host of new features and newly redesigned UI.
SAN FRANCISCO, Aug. 18, 2022 /PRNewswire-PRWeb/ -- Arcade.xyz , the leading decentralized lending marketplace for NFT collateral, launches Arcade V2 , which features upgrades to the underlying protocol and an app redesign.
A highlight of Arcade V2 includes airdrop-friendly vaults, which allow borrowers to claim airdrops from NFTs being used as collateral.
Additionally, V2 adds collection offers, which speed up the process for both borrowers and liquidity providers.