client_transactions

SSG Client Transactions

Title

IGI, Inc.
Client Profile

Client Profile

IGI, Inc., a publicly traded company, (AMEX: IG) manufactures poultry, vaccines, pet care and cosmetic products utilizing a proprietary technology.
Situation

Situation

At the time of SSG's retention, IGI, Inc. was under SEC, Department of Justice, Treasury and Agriculture investigation; while generating substantial negative cashflow.
Solution

Solution

SSG initially restructured IGI's existing senior credit facility with their bank group, through a formal forebearance agreement, in order to allow IGI senior management time to implement their business plan. SSG then delivered a $22 million senior debt facility including a substantial cash flow component and $7 million of sub-debt including warrants for 19.9% of IGI, Inc. Initial offers had begun at $10 million of asset-based senior debt and $7 million of sub-debt/equity for 55%-90% of the Company.
February 1999
$29,000,000
Revolving Credit Facility, Senior Secured Term Loan, Capital Expenditure Facility, Senior Subordinated Secured Notes
provided to
The undersigned acted as Investment Banker to
IGI, Inc. on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 786-7432

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