Nomura Shares Drop After Profit Miss Despite Strong Revenue Growth 
Robinhood Q1 Earnings Miss Expectations, Stock Drops After Hours 
DeepSeek Slashes AI Model Pricing to Boost Adoption and Challenge Global Rivals 
Seagate Stock Surges After Strong Q3 Earnings Beat and Bullish Outlook 
U.S. Demand for Alternative Satellite Providers Remains Strong Amid SpaceX Regulatory Push 
Lightelligence IPO Soars Over 400% in Hong Kong Debut Amid Rising AI Investment Demand 
Australia Targets Meta, Google, and TikTok With New News Payment Tax Proposal 
Pershing Square Raises $5 Billion in Landmark U.S. IPO and Share Placement 
Kia Cuts EV Prices in Europe as Chinese Carmakers Intensify Competition 
Why Paycom Was Named a 2026 Platinum Employer on the Where You Work Matters List 
Micro Systemation Reports Q1 Loss Amid Strategic Investments and Revenue Growth 
T-Mobile Beats Q1 Earnings Expectations on Strong Postpaid Growth 
Starbucks Raises 2026 Outlook as Turnaround Strategy Boosts Sales and Earnings 
Google Secures Pentagon AI Deal for Classified Projects 
WuXi AppTec Stock Surges on Strong Q1 Earnings and CRDMO Demand Growth 
TSMC Exits Arm Holdings with $231 Million Share Sale Amid Strategic Portfolio Shift 
Toyota Global Vehicle Sales Decline in March Amid RAV4 Transition and Middle East Slowdown 
LOS ANGELES, April 19, 2017 -- Great American Capital Partners, LLC (GACP) and KKR Capital Markets LLC announced that they have entered into an agreement with Sears Canada, Inc. (TSX:SCC) to provide a C$300 million senior secured term loan. The first tranche of C$125 million was drawn at closing and the second delayed draw tranche is up to C$175 million. Proceeds from the loan will be used for general corporate purposes. GACP is a wholly owned subsidiary of B. Riley Financial (NASDAQ:RILY).
Sears Canada Inc. operates over 200 stores under five different banners, including Full-line Stores, Outlet Stores, Home Stores, Hometown Stores and Corbeil Stores. The Toronto-based department store chain sells apparel, appliances, home décor products and various other goods.
"GACP is pleased to work with Sears Canada and provide it the capital to achieve its operating plan,” said Robert Louzan, Managing Director of GACP. “This transaction is another example of GACP’s ability to provide creative solutions to the challenging retail environment.”
“Sears Canada is a longstanding brand with a household name. We are pleased to support the company’s reinvention and its focus on offering Canadian consumers a variety of shopping options to meet their needs,” said George Mueller, Director, KKR Credit Advisors.
“We are pleased to have the support of GACP and KKR as Joint Lead Arrangers,” said Brandon G. Stranzl, Executive Chairman, Sears Canada Inc. “Sears Canada’s reinvention is well underway and we look forward to sharing our progress on new initiatives with Canadians as we move through 2017.”
About Great American Capital Partners, LLC
GACP, a division of B. Riley Capital Management, an SEC Registered Investment Advisor and a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), originates and underwrites senior secured loans across a wide array of industries. GACP is dedicated to providing opportunistic and responsive capital to the underserved middle market.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals.
Contact John Ahn [email protected] (310) 689-2215 Robert Louzan [email protected] (203) 663-5101
