B. Riley Financial led the equity financing to facilitate the $2.8 billion management-led acquisition of Franchise Group. B. Riley invested $216.5 million of new capital in the transaction.
Fogo de Chão, a Brazilian steakhouse restaurant brand, entered into a definitive agreement to be acquired by Bain Capital Private Equity to accelerate growth and expansion. Deutsche Bank led debt financing for the transaction and is also serving as financial advisor to Bain Capital.
FTX Trading and its affiliated debtors filed an initial plan of reorganization and related term sheet with the U.S. Bankruptcy Court.
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.
Rayonier Advanced Materials (RYAM), a producer of high-purity cellulose specialties and other sustainable materials, obtained $250 million in aggregate principal amount of secured term loan financing from funds managed by Oaktree Capital Management.
Seres Therapeutics, a microbiome therapeutics company, entered into a new $250 million senior secured debt facility provided by funds managed by Oaktree Capital Management. Seres drew the first tranche of $110 million at closing, with three additional tranches available.
Sumitovant Biopharma completed its acquisition of Myovant Sciences originally announced Oct. 23, 2022. Sumitovant has acquired all outstanding shares of Myovant not already owned by Sumitovant in an all-cash deal with a total transaction value of approximately $1.7 billion.
Provident Financial Services, the parent company of Provident Bank, and Lakeland Bancorp, the parent company of Lakeland Bank, will combine in an all-stock merger valued at approximately $1.3 billion.
B. Riley Financial agreed to acquire FocalPoint Securities, an independent investment bank based in Los Angeles, for total consideration of up to $175 million.
On Jan. 1, Robert J. Giuffra Jr. and Scott Miller became the co-chairs of law firm Sullivan & Cromwell. Giuffra and Miller have served as vice chairs of the firm since January 2021. They succeeded Joseph C. Shenker, the firm’s chair since 2010.