Medical dermatology company Novan entered into a stalking horse asset purchase agreement with Ligand Pharmaceuticals prior to filing for Chapter 11 bankruptcy. Novan also entered into a secured DIP credit facility with Ligand in the principal amount of $15 million.
Club Car entered into a definitive agreement to acquire Garia, a Denmark-based manufacturer of electric low-speed vehicles for the utility, consumer and golf markets, from Lars Larsen Group. Goldman Sachs is leading the debt financing on the transaction.
Platinum Equity entered into a definitive agreement to acquire Club Car from Ingersoll Rand in a transaction valued at approximately $1.7 billion. BofA Securities will lead the debt financing for Platinum Equity and Club Car in connection with the transaction.
The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the aftermath of the U.S. election.
Morgan Lewis expanded its structured transactions capabilities with the addition of partners Jeff Weinstein and Partrick Lample in Chicago.
Morgan Lewis will expand its global structured transactions capability in London with the addition of structured finance partner Theresa Kradjian and corporate tax partner Paul Beausang.
Morgan Lewis announced that Glenn E. Siegel joined the firm as a partner in its Business and Finance Practice and co-head of its Bankruptcy and Restructuring Group in