Represented FinFit Holding Co LLC and subsidiary in connection with capital investment transaction
McGlinchey Stafford PLLC represented FinFit Holding Co LLC and its wholly-owned subsidiary, FinFit Ops LLC, in a capital investment transaction with BCPFF, LLC, an affiliate of Bison Capital Partners IV, L.P. The initial portion of the transaction, consisting of a $16 million convertible promissory note, was completed on December 28, 2016, and will allow FinFit to continue to provide financial wellness benefits programs and employee loans to its participating client companies. As part of the transaction, BCPFF will, upon the occurrence of certain regulatory conditions, exchange the note for Series A shares of FinFit’s newly formed holding company.
McGlinchey Stafford served as FinFit’s exclusive legal counsel with respect to all facets of the transaction, including lender regulatory compliance and general transaction guidance. Baton Rouge Office Member J-P Perrault served as the lead transaction counsel, with assistance from Alex Velazquez (Baton Rouge office). Regulatory guidance was principally provided by Members David Thompson (Cleveland office) and Anthony Rollo (Baton Rouge office), as well as Robert Savoie (New Orleans office). Certain FinFit employees were separately represented by Williams Mullen law firm with respect to employment issues and option compensation. BCPFF was represented by Sheppard, Mullin, Richter & Hampton LLP.