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
In a statement early this month, StreetTrend LLC announced that it purchased the Italy-based luxury sneaker brand from NoThanks SpA. As part of the acquisition, the consolidated entity will be called P448 SpA and will become part of StreetTrend’s portfolio of footwear and fashion brands.
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StreetTrend founder and CEO Wayne Kulkin, who held the chief executive role at Stuart Weitzman for more than 25 years, said he first discovered P448 three years ago while traveling to Italy to source brands for his new company. He signed an agreement with the label to serve as its exclusive distributor and marketing partner for the United States, as well as Canada, Mexico, China, Hong Kong, Macau and Taiwan.
In 2018, StreetTrend snapped up a 30% stake in P448 from NoThanks SpA. According to StreetTrend, P448 has achieved a compound annual growth rate of 40%
As the latest masterpiece from GAC MOTOR, the new car embodies its ingenuity and experience over the last 12 years during its development. The GA8 has demonstrated extraordinary strength in its body frame and design, handling, and overall driving experience. This car is built to impress and will no doubt be a world-class luxury product for Saudi Arabia’s consumers.
For many local drivers, a car is not merely a means of transportation. Instead, their cars reflect the expectations and hopes they have for their lives. They look for a vehicle that highlights their value, identity, style, and capability. Thus, the car they drive is essential as a business card to prove worth in a tangible way.
As a modern masterpiece that incorporates international experience and resources while pushing R&D’s boundaries, the all-new GA8 represents the best of modern car manufacturing. The car’s rigorous design aims to provide the best experience
Overall, the advent of technology marked a new dawn for the entire world. Clearly, the reality of life has never been the same since advancements in technology have become part of our everyday lives. Nevertheless, and on a positive note, it continues to change and evolve for the betterment of mankind. In a sense, technology has developed life into a fine balance of convenience and production. The result being that we now have the ability to complete da-to-day tasks more rapidly and with much less effort.
Luxury fashion is particularly attuned to this moment, as the progression of technology promises to imbue delivering excellent customer service as well
The all-new 2021 Acura TLX offers striking exterior styling
“The 2021 Acura TLX represents the latest step in Acura’s return to the performance brand it started out as,” says Jon Ikeda, Acura’s Brand Officer and architect of the Acura revival over the past 5 years. He also reaffirmed Acura’s dedication to the luxury sedan. “Acura is a performance brand and will not abandon the sedan market. Sedans are what’s left for real performance fans.”
This return to Acura’s roots includes the latest marketing campaign (”Less Talk, More Drive”), multiple race-winning supercars, and a model line incorporating more advanced technology and more aggressive styling. The 2021 Acura TLX reflects all of these shifts in direction, giving Acura’s all-new entry-luxury sedan more performance and presence. Both elements are obvious as soon as you approach the TLX, with its wider stance, crisper body lines, and intense exterior lighting (even when they’re