Quiznos has completed its financial restructuring on an out-of-court basis. The agreement eliminates one-third, or approximately $300 million, of the company’s outstanding debt, and provides a significant infusion of $150 million in new equity from Avenue Capital Group to position Quiznos for future growth.
Hercules Technology Growth Capital announced the closing of its public offering. The underwriter purchased five million shares of common stock resulting in proceeds of $48.05 million before deducting offering expenses. Citigroup is the sole underwriter of this offering.
Stellus Capital Management announced its official launch and spin off from the D. E. Shaw group. The Stellus team will continue its current strategies of providing secured and unsecured loans to middle-market companies and private equity sponsors in a wide range of industries.
Crestmark announced the addition of Donovan W. Daley as vice president, account executive to the Crestmark team. He will work as a part of Crestmark’s growing East region out of the West Palm Beach, FL office.
Dow Jones Newswires has reported that U.S. Bankruptcy Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York has granted permission for A&P to receive $750 million in exit financing from J.P. Morgan Chase and Credit Suisse.