Hart Stores announced that the Quebec Superior Court granted an Order authorizing it to file a Plan of Arrangement under the Companies’ Creditors Arrangement Act. The company also entered into a commitment with CIBC Asset-Based Lending for a $25 million secured credit facility.
XRoads Solutions Group announced that Tauheed Williams has joined the Case Management Services team as senior managing consultant.
Hercules Technology Growth Capital has priced its public offering of five million shares of common stock. Hercules has granted the underwriter a 30-day option to purchase up to an additional 750,000 shares of common stock. Citigroup is the sole underwriter of this offering.
TA Associates announced the promotion of eight staff members including: M. Roy Burns, Mark H. Carter, Hythem T. El-Nazer, Harry D. Taylor, Birker B. Bahnsen, William D. Christ, J. Morgan Seigler and Jason P. Werlin.
First Niagara Commercial Finance said it provided SolomonEdwardsGroup a $17.5 million facility to be used to refinance its prior credit facility, for ongoing working capital and other corporate purposes.
The proposed annual stress tests of the largest U.S. banks may not be very useful for CFOs trying to assess the health of financial institution, reported CFO staff writer Vincent Ryan.
FirstMerit Bank Business Credit announced it has completed two transactions totaling more than $23 million to Akron Hardware Consultants and Energy Manufacturing Company.
The University of Virginia’s McIntire School of Commerce released the results of a study examining bankruptcy and recovery among private equity firms.
Ryan, a global tax services firm with the largest indirect tax practice in North America, has secured a $100 million (expandable to $135 million) syndicated credit facility led by Bank of America and including Comerica Bank, Citibank and Fifth Third Bank.
ZestCash has closed a $73 million round of funding. The company raised a $50 million line of debt financing from Victory Park Capital and raised $23 million in an equity round led by Matrix Partners.