The TCW Group, a global asset management company, closed a $400 million collateralized loan obligation fund, TCW CLO 2023-2, which is secured primarily by broadly syndicated first lien loans.
Banc of California signed a definitive merger agreement with PacWest Bancorp. The combined holding company and bank will operate under the Banc of California name and brand following closing of the transaction.
AppHarvest filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The company also obtained a commitment from Equilibrium for $30 million in debtor-in-possession financing.
QualTek Services, an infrastructure services provider, announced that its plan of reorganization has been confirmed by the U.S. Bankruptcy Court for the Southern District of Texas.
Lordstown Motors entered a strategic restructuring process to maximize the value of its assets, including its on-the-road Endurance all-electric pickup truck, intellectual property and platform.
QualTek Services, an infrastructure services provider, announced a restructuring transaction that will reduce the company’s debt by approximately $307 million and provides $40 million of additional liquidity.
Daktronics closed on a three-year, $75 million senior secured credit facility with JPMorgan Chase. In addition, Daktronics closed a $25 million convertible debt financing agreement with shareholder Alta Fox Capital Management.
Locus Fermentation Solutions, a green tech company that produces biological alternatives to chemicals that advance decarbonization goals, has secured $117 million in IP-insurance backed debt financing arranged by Jefferies — bringing its total raise to more than $250 million.
Danimer Scientific closed a new senior secured term loan with an aggregate principal amount of $130 million that expands its capital structure, significantly improves its near-term liquidity position and enables it to maintain strategic and operational flexibility.
QualTek Services closed a money incremental term loan providing $55 million in immediately available funds under its existing term loan credit agreement. The company appointed Cari Turner of Alvarez & Marsal as chief restructuring officer to support QualTek’s management team and the board of directors.