Lowis & Gellen represented the Lenders’ Agent in a participated loan made to the holding company of a Hawaii based software development firm, which has successfully funded. The newly created client raised capital for the loan by selling participating interests in the loan to a group of co-lenders. The loan itself was secured by the assets of the borrower and by a payment guaranty and pledge of membership interest from the principal owner of the borrower. Upon funding, the borrower used the proceeds of the loan to make an equity investment in its subsidiary operating company, thereby enabling local Hawaiian investors to take advantage of a special Hawaiian state tax credit.
The Lowis & Gellen team consisted of Robert Leavitt, James Froberg and Mehreen Sherwani, who handled for the client, as its exclusive outside counsel, the legal aspects of the transaction, including preparation of the private placement memorandum, the SEC Form D, the co-lender participation agreement and the loan documents.
For additional information, please contact:
Robert Leavitt, (312) 628-7199
rleavitt@lowis-gellen.com
The Lowis & Gellen team consisted of Robert Leavitt, James Froberg and Mehreen Sherwani, who handled for the client, as its exclusive outside counsel, the legal aspects of the transaction, including preparation of the private placement memorandum, the SEC Form D, the co-lender participation agreement and the loan documents.
For additional information, please contact:
Robert Leavitt, (312) 628-7199
rleavitt@lowis-gellen.com
