MoFo News Item

MoFo Advises Virgo and NOW in Series of Fintech Financings

04 Nov 2021

Morrison & Foerster represented Virgo Investment Group, a Bay Area based private equity firm, and its portfolio company NOWaccount Network Corporation, in obtaining new debt and equity financing from affiliates of Brigade Capital Management, LP. The transaction closed on August 27, 2021.

Established in 2010 by Stacey Abrams and Lara Hodgson, NOW is a provider of a B2B payment system designed to help small businesses to manage their payment transactions. Its invoice payment solution platform empowers NOW’s clients to grow by enabling small businesses to accelerate cash flow and revenue opportunities. The recent financing transaction was used to refinance the company’s existing municipal bond facility, and will help scale the purchase of future invoices from NOW’s clients and fuel the growth of NOW’s portfolio.

The MoFo team advising Virgo and NOW on the debt financing transaction was led by San Francisco private equity/finance of counsel Eric Min, together with of counsel Vincent Novak, Denver finance associate Nicholas De La Cruz, and San Francisco finance associate Julie Rose. The wider team included San Francisco private equity/finance partner Dario Avram, New York finance partners Peter Dopsch and Geoffrey Peck, New York tax partner Anthony Carbone and associate David Sturgeon, Denver investment management of counsel Kelley Howes, New York financial services partner Jiang Liu, and San Francisco technology transactions partner Paul Jahn and associate Alex Siegel.

The MoFo team advising Virgo and NOW on the equity financing transaction was led by San Francisco corporate partner Alfredo Silva, with assistance from associate Harry Stanwyck.

Close
Feedback

Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.