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Firm and the Company
M&A / Corporate
Document types detected
Correspondence4
Analysis / memo3
Other3
Engagement letter2
Parties across the matter
Associate Whitfield Ames LLPBellweather Appraisal Group LLCBorrower Meridian Consumer Brands LLCCounsel Meridian Consumer Brands LLCFacility Meridian Consumer Brands LLCGreystone Capital Finance LLCHARKNESS LLPHarkness LLPLender's Counsel Whitfield Ames LLPLocke CPAs LLPMeridian Consumer Brands LLCOverview Meridian Consumer Brands LLCWhitfield Ames LLP
Chronology
2022-05-13 · termination-letter-to-ridgeline.docx
… : (212) 558-4000 Facsimile: (212) 558-3588 www.calderwoodharkness.com May 13, 2022 VIA EMAIL AND FIRST CLASS MAIL Jonathan Kershaw Senior Vice President, Asset-Based Lendin …
2022-05-11 · termination-letter-to-ridgeline.docx
… tent with Meridian's financing requirements and operational needs. On May 11, 2022, counsel and principals of the respective parties held a final conference call during whi …
2022-05-03 · best-and-final-analysis-memo.docx
… king & Finance One Liberty Plaza, 45th Floor New York, New York 10006 May 3, 2022 MEMORANDUM I. EXECUTIVE SUMMARY The purpose of this memorandum is to analyze the "best an …
2022-04-29 · termination-letter-to-ridgeline.docx
… e delivered what it characterized as a "best and final" term sheet on April 29, 2022 (the "Best and Final Term Sheet"). The Best and Final Term Sheet proposed, in the alterna …
2022-04-29 · email-okafor-to-chu-may-11-termination-recommendation.eml
… nd will not deviate from the "best and final" term sheet delivered on April 29, 2022. Ridgeline's position remains binary: either (a) a reduction of the revolving commitment …
2022-04-29 · best-and-final-analysis-memo.docx
… vered by Ridgeline National Bank, N.A. ("Ridgeline" or the "Bank") on April 29, 2022 (the "Best and Final Term Sheet"), in connection with the proposed $40,000,000 asset-base …
2022-04-18 · termination-letter-to-ridgeline.docx
… 8, 2022 revised term sheet to Whitfield Ames LLP on April 8, 2022. On April 18, 2022, counsel and principals of the respective parties participated in a multi-party conferenc …
2022-04-18 · best-and-final-analysis-memo.docx
… epting certain (but not all) of the Bellweather inventory exclusions. April 18, 2022: A multi-party telephonic conference was held among Stephanie Okafor and Daniel Obi (Cald …
2022-04-11 · email-okafor-to-chu-april-18-call-summary.eml
… ility counter-proposal transmitted by Daniel Obi to Whitfield Ames on April 11, 2022, remains Meridian's formal position. Neither Kershaw nor Royce indicated that a substanti …
2022-04-11 · best-and-final-analysis-memo.docx
… umer products borrower with established retail distribution channels. April 11, 2022: Daniel Obi transmitted a formal collateral eligibility counter-proposal to Whitfield Ame …
2022-04-08 · termination-letter-to-ridgeline.docx
… kup of the March 28, 2022 revised term sheet to Whitfield Ames LLP on April 8, 2022. On April 18, 2022, counsel and principals of the respective parties participated in a mu …
2022-04-08 · email-obi-to-whitfield-ames-collateral-counter.eml
… alysis Memorandum — Collateral Sensitivity and Advance Rate Analysis (April 8, 2022) …
2022-04-08 · email-okafor-to-chu-april-18-call-summary.eml
… ables, which we delivered to you and transmitted to Whitfield Ames on April 8, 2022, anticipated this outcome under the conservative eligibility scenario. **3. Ridgeline's …
2022-04-08 · email-okafor-to-chu-may-11-termination-recommendation.eml
… eet, and as reflected in the borrowing base analysis memorandum dated April 8, 2022, the gap between the parties' positions on borrowing base eligibility criteria is fundame …
2022-04-08 · best-and-final-analysis-memo.docx
… eivables from approximately $38,000,000 to approximately $31,000,000. April 8, 2022: Calderwood & Harkness delivered a counter-markup of the March 28 Revised Term Sheet to W …
2022-04-08 · borrowing-base-analysis-memo.xlsx
… Memorandum — Collateral Sensitivity and Advance Rate Analysis Date | April 8, 2022 Matter Number | 1011-00001 Prepared By | Lisa Morrow, Working Associate, Banking & Financ …
2022-04-08 · second-revised-term-sheet-markup.docx
… umer Brands LLC LENDER: Ridgeline National Bank, National Association April 8, 2022 Base Document: Further Revised Indicative Term Sheet dated March 28, 2022, as prepared by …
2022-03-28 · termination-letter-to-ridgeline.docx
… ted February 28, 2022, followed by a further revised term sheet dated March 28, 2022, each of which reflected certain, but not all, of Meridian's requested modifications. Cal …
2022-03-28 · email-obi-to-whitfield-ames-collateral-counter.eml
… ed term sheet received from Ridgeline, transmitted via your office on March 28, 2022, as well as the preliminary appraisal summary delivered by Bellweather Appraisal Group LL …
2022-03-28 · best-and-final-analysis-memo.docx
… asonal and these SKUs represent core, recurring inventory categories. March 28, 2022: Ridgeline circulated a further revised term sheet (the "March 28 Revised Term Sheet") re …
2022-03-28 · second-revised-term-sheet-markup.docx
… il 8, 2022 Base Document: Further Revised Indicative Term Sheet dated March 28, 2022, as prepared by Ridgeline National Bank, National Association and circulated by its couns …
2022-03-21 · email-obi-to-whitfield-ames-collateral-counter.eml
… mmary delivered by Bellweather Appraisal Group LLC ("Bellweather") on March 21, 2022. Attached for your review are (i) Calderwood & Harkness's annotated markup of the revised …
2022-03-21 · email-okafor-to-chu-april-18-call-summary.eml
… weather Appraisal Group LLC's preliminary field examination delivered March 21, 2022. This reduces eligible inventory from approximately $54 million to approximately $42 mill …
2022-03-21 · email-okafor-to-chu-may-11-termination-recommendation.eml
… ellweather Appraisal Group's preliminary field examination (delivered March 21, 2022), which flagged approximately $12 million in seasonal and slow-moving inventory SKUs as i …
2022-03-21 · best-and-final-analysis-memo.docx
… use facilities. Thomas Varga of Bellweather served as lead appraiser. March 21, 2022: Bellweather delivered its preliminary appraisal summary to Ridgeline. The appraisal flag …
2022-03-21 · second-revised-term-sheet-markup.docx
… Bellweather Appraisal Group LLC's preliminary field examination dated March 21, 2022; (c) The imposition of a new $25,000,000 inventory sublimit (Section 4.1(ii)(B)) not prev …
2022-03-07 · email-obi-to-whitfield-ames-collateral-counter.eml
… ledge that Bellweather commenced its preliminary field examination on March 7, 2022, and delivered its preliminary appraisal summary on March 21, 2022. In that summary, Bell …
2022-03-07 · best-and-final-analysis-memo.docx
… ation limits on receivables from Meridian's largest retail customers. March 7, 2022: Bellweather Appraisal Group LLC ("Bellweather"), an independent appraisal firm retained …
2022-03-04 · email-okafor-to-chu-april-18-call-summary.eml
… priority lien on all other assets — was outlined in our memorandum of March 4, 2022. My recommendation is that Meridian hold off on formally engaging Greystone on intercred …
2022-03-04 · intercreditor-issues-memo.docx
… loor New York, New York 10006 Tel: (212) 558-4000 Fax: (212) 558-3588 March 4, 2022 TO: Raymond Chu, General Counsel, Meridian Consumer Brands LLC Patricia Delgado, Chief Fi …
2022-02-28 · termination-letter-to-ridgeline.docx
… structural terms. Ridgeline responded with a revised term sheet dated February 28, 2022, followed by a further revised term sheet dated March 28, 2022, each of which reflected c …
2022-02-28 · best-and-final-analysis-memo.docx
… support the full $40,000,000 commitment during peak seasonal periods. February 28, 2022: Ridgeline responded with a revised term sheet. The Bank rejected Meridian's proposed 75% …
2022-02-28 · intercreditor-issues-memo.docx
… eflected in the most recent term sheet received from Ridgeline (dated February 28, 2022), are summarized below: Ridgeline's outside counsel for the Proposed ABL Facility is Whit …
2022-02-28 · second-revised-term-sheet-markup.docx
… Term Sheet"). Lender thereafter circulated a revised term sheet dated February 28, 2022, and subsequently the current Further Revised Term Sheet dated March 28, 2022, which intr …
2022-02-14 · termination-letter-to-ridgeline.docx
… marked-up version of the Initial Term Sheet to Whitfield Ames LLP on February 14, 2022, setting forth Meridian's comments and proposed revisions to, among other things, the col …
2022-02-14 · best-and-final-analysis-memo.docx
… erally consistent with market for consumer products ABL transactions. February 14, 2022: Calderwood & Harkness delivered a marked-up term sheet to Whitfield Ames incorporating M …
2022-02-14 · deal-summary-memo.docx
… for delivery by mid-February 2022, with a specific internal target of February 14, 2022. All definitive documentation is expected to be governed by the laws of the State of New …
2022-02-14 · intercreditor-issues-memo.docx
… & Harkness delivered a marked-up term sheet on behalf of Meridian on February 14, 2022; a revised term sheet reflecting Ridgeline's responses to our markup was received on Febr …
2022-02-14 · second-revised-term-sheet-markup.docx
… proposed term sheet. The first C&H annotated markup was delivered on February 14, 2022 (the "First C&H Markup"), in response to the Initial Indicative Term Sheet received from …
2022-02-10 · deal-summary-memo.docx
… anking & Finance FROM: Daniel Obi, Associate, Banking & Finance DATE: February 10, 2022 RE: Internal Deal Summary — Proposed $40,000,000 Asset-Based Revolving Credit Facility fo …