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Decibel Cannabis Company Bolsters Financial Flexibility With $54M Debt Refinancing

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Decibel Cannabis Company Inc (TSXV:DB) (OTCQB: DBCCF) announced Friday that it has entered into an amended and restated commitment letter with connectFirst Credit Union Ltd. in respect of $54 million of debt capital over an initial 5-year term.

Based in Calgary, Alberta, the cannabis producer reported that the sum includes $40.5 million of term debt, a $6 million authorized overdraft secured against government receivables and an accordion line of $7.5 million.

The proceeds combined with contributions from operations are expected to provide sufficient liquidity to repay the company’s convertible debentures on maturity.

“With this refinancing, Decibel has …

Full story available on Benzinga.com

Article: benzinga.com

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Walmart Fintech Buys Earned Wage Access Firm Even in ‘super App’ Pursuit

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Former Goldman Sachs exec Omer Ismail will serve as CEO of the combined business, which includes One Finance, a digital financial services company the retailer also bought Wednesday.

Article: bankingdive.com

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BDA and William Blair Advise EQT on Sale of ELEVATE to LRQA

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New York, NY January 27, 2022 –(PR.com)– BDA Partners is pleased to announce that EQT, advised by BDA in conjunction with William Blair, has agreed to sell its majority stake in ELEVATE to LRQA via its EQT Mid Market Fund. Under the transaction, ELEVATE will be acquired by LRQA and Ian Spaulding, who has led the successful growth of ELEVATE since its inception in 2013, will join the LRQA executive team. The transaction is subject to regulatory approvals and is expected to close in 2022.

Headquartered in Hong Kong, ELEVATE is a market leading, premium provider of customized solutions focusing on ESG and supply chain effectiveness with operations in more than 100 countries. The Company supports over 450 corporate customers along global supply chains within ESG and sustainable sourcing through a unique combination of in-depth insights driven by on-the-ground presence, high-quality and comprehensive services and data analytics. EQT Private Equity acquired a majority interest in ELEVATE in 2016, with the founders and management retaining significant stakes in the Company.

Headquartered in the UK, LRQA is the leading global assurance provider bringing together expertise in certification, cybersecurity, inspection, and training. LRQA focuses on helping companies negotiate a rapidly changing risk landscape, with the ambition to lead the digital transformation of the assurance market. LRQA was formed from the sale of the Business Assurance and Inspection Services division of Lloyd’s Register, to funds managed by Goldman Sachs Asset Management.

BDA Partners and William Blair acted as exclusive financial advisors to EQT on the transaction. Terms were not disclosed.

Vesa Koskinen, Partner within EQT Private Equity’s Advisory Team, said, “It has been an exciting journey with ELEVATE which is now a global leader of ESG and supply chain services and a pioneer in the industry. Ian and the management team have done a fantastic job in driving the Company’s strategic vision and we are proud to …

Full story available on Benzinga.com

Article: benzinga.com

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UBS to Buy Wealthfront in $1.4B US Wealth-management Push

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The deal, slated to close after June, gives the Swiss bank 470,000 new clients and $27 billion in assets under management from the fintech, and an entry point to millennials and Gen-Zers with $250,000 to $2 million.

Article: bankingdive.com

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