ABOUT THE COMPANY:
Project Bay specializes in training and equipping of foreign militaries and indigenous defense forces with an entrenched position with U.S. government. As a global program manager in support of military sustainment services, Bay maintains a demonstrated past performance of placing people and resources in CONUS and OCONUS locations in support of the U.S. government and coalition partners.
SITUATION:
Following the award of a $42MM U.S. government contract, Bay sought G2’s advisory services to establish a credit facility to fund operations and support general working capital needs.
ENGAGEMENT:
G2 served as the exclusive financial advisor to Bay with a multi-stage mandate that comprised initially of helping to strengthen the company’s financial reporting capabilities in preparation for a capital raise process. Upon completion of the first stage of the engagement, G2 initiated a capital raising process, targeting non-traditional lending partners that had expertise within government contracting and capability to underwrite a facility with cross-border complexity in an expedited manner.
OUTCOME:
G2 successfully executed on a debt raise that resulted in the formation of a customized credit facility for Bay. The facility included a three-party lending group structured to provide Bay with a flexible lending solution required to satisfy the company’s U.S. government contract requirements and solve for future borrowing needs.
DEAL TEAM:
TAGS:
Exclusive Restructuring Advisor
Industrials & Manufacturing
Operational Revitalization
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Exclusive Restructuring Advisor
G2 was engaged as Chief Restructuring Officer (“CRO”). Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
Exclusive Restructuring Advisor
G2 was engaged to facilitate negotiations for more favorable payment terms with key vendors, aiming to optimize cash flow management.
Exclusive Restructuring Advisor
G2 was engaged to perform a Phase 1 strategic alternatives assessment.
Exclusive Restructuring Advisor
The Company engaged G2 as its Chief Restructuring Officer. Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
Exclusive Restructuring Advisor
G2 conducted a rapid Phase 1 Assessment and developed a report that included an assessment of the business, operations, and financial condition of the Company, short-term liquidity, near-term capital requirements, and strategic alternatives.
Exclusive Restructuring Advisor
The Company engaged G2 to assist in building the long-term financial model, a 13-week cash flow forecast, facilitate negotiations between the Company, the sponsor, and the lender group.
Exclusive Restructuring Advisor
G2 was engaged to complete a Phase 1 assessment of the Company’s financial forecasts and its ability to return to pre-COVID levels of financial performance.
Exclusive Restructuring Advisor
G2 conducted a Phase I Assessment focused on liquidity and cash flow management assessment, business and operational strategy review, refinancing options, and strategic alternatives.
Exclusive Restructuring Advisor
G2 worked alongside creditors and management to develop a Phase 1 Assessment. G2 advised the lenders with respect to the financial position of the Company.
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