Gordian advised an interested party in their ultimate acquisition of Eye Care Leaders, a software services company in the ophthalmology and optometry space, through Chapter 11 – including providing a DIP Loan, which was creatively used to purchase the company in a 363 Auction process.
Gordian led the negotiation of a recapitalization for the Company, which led to: 18+ lenders across two tranches agreeing to a 30% debt reduction; covenant relief with multiple cure rights; maturity extensions; and cash interest relief – all with little dilution to the Sponsor and outside of bankruptcy within three months.
The Company is a private equity, Sponsor-backed D2C Services company. Gordian had previously successfully restructured another portfolio company of the Sponsor. Gordian spearheaded a 12-week negotiation of a recapitalization for the Company, which led to: covenant relief, including an extended holiday and multiple cure rights; significant maturity extensions; and meaningful cash interest relief (including two years of full PIK) – all with zero dilution to the Sponsor and outside of bankruptcy.
Gordian acted as investment banker to the Company, leading it through its Chapter 11 process.
Gordian Group advised the Private Equity Sponsor to effect a consensual restructuring with new capital and a materially deleveraged capital structure in the face of unprecedented market headwinds.
Gordian Group advised the FDIC regarding Bank United and, in particular, the bank’s capital adequacy in the period preceding its takeover.
Gordian Group acted as investment banker to Stereotaxis in connection with its successful, fast track, out-of-court restructuring, which entailed new money raised, a restructuring of existing securities, and new instruments being issued, all of which resulted in a significant deleveraging of the company and sufficient funds to support continued operations.
Gordian Group was engaged by the equity holders of Liberty House in connection with the Company’s bankruptcy, and which included developing plans of reorganization, providing expert witness reports in respect of valuation, negotiating with the Company’s constituencies and achieving a highly successful outcome for the equity holders.
Gordian Group advised the Company in connection with its first successful Chapter 11 restructuring.
Gordian Group advised MBIA with respect to its significant portfolio of manufactured housing-backed securitizations, including creating detailed waterfall models to analyze prospective credit impairments, monitoring portfolio performance, developing remediation strategies, and advising MBIA in its negotiations with the beneficiary of the secondary wrap.
Gordian Group provided expert witness testimony in connection with Merisel’s restructuring, which resulted in a favorable settlement for Gordian’s clients.
Gordian Group was engaged by Acres Gaming to render a fairness opinion in connection with a contemplated merger transaction in the gaming industry. As a result of our findings, the Board rejected the merger proposal, and within three years of our advice to the Board, the company was sold for more than two times the … Read more