Amended Bridge Financing Includes up to $45 Million in New Senior Secured Financing
Birch Lake Fund Management LP, Which Led Senior Bridge Financing Facility in 2019, Returns to Support Faraday Future
Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced that it has completed the expansion and extension of the senior bridge financing facility put in place in 2019 to support the completion and launch of its flagship FF 91 EV and continue development of the mass-market FF 81. The amended bridge facility includes new senior secured financing of up to $45 million, which matures in October 2021.
As part of the expanded and extended financing agreement, Birch Lake, a Chicago-based merchant bank, has returned to support FF as the majority purchaser of the new senior secured financing. The principals of Birch Lake and co-investor, ATW Partners, a New York-based private equity firm, bring extensive experience
LONDON (Reuters) – HSBC HSBA.L will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, Chief Executive Noel Quinn told Reuters.
The pledge is the strongest statement by Europe’s biggest bank on climate change to date, although it met with criticism from some environmental groups for not taking more immediate action to curb its fossil fuel financing.
“COVID has been a wake-up call to us all, including me personally. We have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told
LONDON (Reuters) – HSBC <HSBA.L> will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, its Chief Executive Noel Quinn told Reuters.
In the strongest statement by Europe’s biggest bank on climate change to date, its CEO outlined HSBC’s ambitions to align its activities with the Paris Agreement.
“COVID has been a wake-up call to us all, including me personally, we have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told Reuters in a video interview.
HSBC aims to achieve net zero in its own operations by 2030, he added.
Manifold, the applied AI company, announced a seed financing to support rapid growth, led by Jon Karlen, chairman of Acadian Software and former board member of PillPack. He was joined by Waterline Ventures where Robbie Greenglass led the investment and by former executives, investors, and board members of Amazon, Auris Health, Brightree, and Elevation Pharmaceuticals.
Manifold partners with visionary leaders to make progress rapidly on AI mandates from C-suites and Boards through joint discovery and development programs. Manifold’s AI foundry brings together the infrastructure, algorithms, data, and multidisciplinary R&D team needed to rapidly forge market ready products. In contrast to other tools companies, Manifold’s AI scientists and software engineers work closely with biomedical scientists and engineers to invent novel solutions. Past collaborations have resulted in patents and publications in addition to products, for areas ranging from PK/PD modeling to HEOR and adherence.
“Manifold is continuing to experience rapid growth, with
SCS EXPERT is the first expandable percutaneous lead for neuromodulation treatment for chronic pain
New investors, led by CDP Venture Capital, and including Indaco Ventures I and EUREKA! Venture, join existing participating investors in financing round
Adds to EUR 2.3M grant earlier in 2020 from the European Commission to launch SCS EXPERT
WISE Srl, a medical device company developing next-generation implantable leads for neuromonitoring, neuromodulation and brain-machine interfacing, today announced the closing of a EUR 15 million Series C financing round. New investors, led by CDP Venture Capital SGR, and including Indaco Ventures I Fund and EUREKA! Venture SGR, joined existing investors participating in this round – Principia SGR, New Frontier, Atlante Seed and Atlante Ventures (funds managed by Indaco Venture Partners SGR), High Tech Gründerfonds and F3F.
The proceeds will be partially used to accelerate the development of the Company’s second product, SCS EXPERT (EXpandable PERcu
Following its public offering last Friday, Unity (NYSE: U) now has market cap over $24 B. The tech stock boom, which include mobile gaming, where Unity supplies the building blocks for developers, could not have come at a better time. Competitor Epic Games’ $18 B private financing probably puts its stock, if offered, at over $40 B.
The fog of the war has shrouded a confusing and unsettled Tik Tok sale. Tik Tok is not banned, for now, but another reckoning will come next week. Tik Tok’s lawsuit against the US government is still pending. The Chinese government can still block the deal. And the president* is demanding the parties fund a conservative American history curriculum for public schools from the deal’s proceeds. Which is probably not legal. Meanwhile, TikTok downloads are skyrocketing, although many Tik Tok stars have begun beefing up their presence on other platforms, just in