Raymond James & Associates Archives

Novan Enters Asset Purchase Agreement with Ligand, Files for Chapter 11 Bankruptcy

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.

Peoples Bancorp Completes Acquisition of Limestone Bancorp

Peoples Bancorp completed its acquisition of Limestone Bancorp and Limestone’s wholly-owned subsidiary, Limestone Bank. The completed acquisition included the merger of Limestone Bank into Peoples Bank.

CrossFirst Bankshares Acquires Canyon Bancorporation

CrossFirst Bankshares and Canyon Bancorporation entered into a definitive merger agreement as a stock and cash transaction. Canyon Bank had total loans of $122 million and total deposits of $169 million as of March 31, 2023 and currently operates one banking location in Tucson, AZ.

Renasant Bank Acquires Republic Business Credit

Renasant Corporation and its wholly-owned subsidiary, Renasant Bank, acquired Republic Business Credit in an all-cash transaction. RBC is a commercial finance company with average earning assets in excess of $100 million.

Quanergy to Facilitate Sale of Business Through Voluntary Chapter 11 Process

Quanergy Systems initiated an orderly sale process for its business. To facilitate the sale and maximize value, the company filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

Clarus Therapeutics Files for Chapter 11

Clarus Therapeutics, together with its wholly-owned subsidiary Clarus Therapeutics, has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

Antares Provides Debt Financing for Aurora Capital Partners’ Acquisition of Sharps Compliance Corp.

Aurora Capital Partners, a middle-market private equity firm completed its acquisition of Sharps Compliance Corp. Antares arranged the debt financing for the transaction.

MVB Financial Enters Merger with Integrated Financial Holdings

MVB Financial, the holding company for MVB Bank, entered into a definitive merger agreement pursuant to which MVB will acquire Integrated Financial Holdings (IFH) in an all-stock transaction.

VersaBank Acquires Stearns Financial Services Subsidiary for $13.5MM

VersaBank, a provider of digital banking and cybersecurity solutions, signed a definitive agreement to acquire Minnesota-based Stearns Bank Holdingford, a privately-held, wholly-owned subsidiary of Stearns Financial Services, for $13.5 million.

United Community Banks Completes Merger with Reliant Bancorp

On Jan. 1, United Community Banks completed its merger with Reliant Bancorp, including its wholly-owned subsidiary, Reliant Bank, which was merged with and into United’s bank subsidiary, United Community Bank, and will now operate under the United brand.

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