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

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Exclusive Restructuring Advisor

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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

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G2 was engaged to facilitate negotiations for more favorable payment terms with key vendors, aiming to optimize cash flow management.

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G2 was engaged to perform a Phase 1 strategic alternatives assessment.

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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.

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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.

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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.

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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.

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G2 conducted a Phase I Assessment focused on liquidity and cash flow management assessment, business and operational strategy review, refinancing options, and strategic alternatives.

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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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