Shareholder Michael D. Harris, Esq., who heads Nason, Yeager, Gerson, White & Lioce, P.A.’s (“Nason Yeager”) SEC and Mergers and Acquisitions practice groups, led a team of Nason Yeager lawyers in representing uSell.com, Inc., a publicly-traded New York-based company, in refinancing a revolving line of credit and adding an off-balance sheet financing vehicle, both with one institutional investor.
The new loan was for approximately $8.6 million and the equity transaction involved the lender investing $5.2 million in an off balance sheet financing vehicle.
Shareholders Alan Armour, Esq., who heads Nason Yeager’s lender representation and real estate practice groups, and George Harding, who heads Nason Yeager’s taxation practice group, together with Leah Hutton, Esq., an associate in Nason Yeager’s SEC practice group, assisted Mr. Harris.
The closings occurred simultaneously and were time intensive since the Nason Yeager client saved an approximately $240,000 prepayment penalty by meeting a prior lender-imposed deadline.
Nason Yeager is a full service law firm with experienced lawyers representing clients in a variety of transactional matters including acquisitions, sales of businesses, and commercial loan transactions for publicly and privately-held issuers and investment funds.