Daily News: September 21, 2018

Super G Provides $1.5MM Exit Financing for SaaS Company

Super G Capital provided $1.5 million in exit financing for a venture-backed SaaS provider of content management and digital publishing.

The company was placed in its bank’s special assets division due to a covenant violation. Although the company continued to perform, the bank wanted to exit the credit. Super G was brought in to offboard the client and provide additional working capital.

Super G provided a $1.5 million highly structured, nonformula-based, senior secured loan. The bank successfully offboarded the client as desired, and the company received additional working capital.