News

Palladium Capital Exclusive Placement Agent for $26,000,000 Debt Financing for Glytec

NEW YORK, NY – On September 28, 2023, Palladium Capital Group, LLC announced that it facilitated the private placement of a $26 million senior secured loan for Glytec, LLC and its parent company, Aseko, Inc. in August 2023.

About Glytec

Glytec is the insulin management software company for healthcare providers focused on improving the quality and cost of care. Its FDA-cleared titration software and proprietary algorithms power the only solution capable of delivering personalized diabetes treatment recommendations across the continuum of care, from hospital to home. With ongoing support from its team of doctors, nurses and technologists headquartered outside of Boston, Glytec improves outcomes and controls costs for the large population of patients requiring insulin treatment – including those with and without a diagnosis of diabetes. For more information, follow Glytec on Twitter (@Glytec) and LinkedIn, or visit www.GlytecSystems.com.

Palladium Capital Group Sole Placement Agent for $22,000,000 Equity Financing for AYRO, Inc. (NASDAQ:AYRO)

NEW YORK, NY – On August 8, 2023, Palladium Capital Group, LLC announced it acted as sole placement agent a private placement in which AYRO, Inc. (the “Company”) entered into a Securities Purchase Agreement  with certain existing investors (the “Investors”), pursuant to which it agreed to sell to the Investors (i) an aggregate of 22,000 shares of the Company’s newly-designated Series H-7 convertible preferred stock with a stated value of $1,000 per share, initially convertible into up to 22,000,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a conversion price of $1.00 per share, and (ii) warrants to acquire up to an aggregate of 22,000,000 shares of Common Stock at an exercise price of $1.00 per share.

About AYRO

AYRO designs and produces zero emission vehicles and systems that redefine the very nature of sustainability. Our goal is to craft solutions in a way that leaves minimal impact on not only carbon emissions, but the space itself. From tire tread, fuel cells, sound and even discordant visuals, we apply engineering and artistry to every element of our product mix. The AYRO Vanish is the first in this new product roadmap. For more information, visit ayro.com.

Palladium Capital Group Facilitates $5,000,000 Financing for Cryptyde, Inc. (NASDAQ: TYDE)

NEW YORK, NY – On March 15, 2023, Palladium Capital Group, LLC, acted as sole placement agent for Cryptyde, Inc. for the issuance and sale of a Senior Secured Convertible Note with an initial principal amount of $5,555,000. The purchase price of the Note and the Warrant is $5 million.

Palladium Capital Group Sole Placement Agent for $10,000,000 Private Placement for Vinco Ventures Inc. (NASDAQ:BBIG)

NEW YORK, NY – On February 5, 2023, Palladium Capital Group, LLC, acted as sole placement agent for Vinco Ventures Inc., in its issuance of a $10,000,000 principal amount convertible note and shares of Series A perpetual non-convertible preferred stock of the Company designated as Series A Preferred Stock.

Palladium Exclusive Placement Agent in $550,000 Debt Financing for PishPosh, Inc.

NEW YORK, NY, January 31st, 2023 – Palladium Capital Group, LLC, today announces that it has  served as the exclusive placement agent and financial advisor to PishPosh Inc. in its issuance of an aggregate of $550,000 in unsecured original issue discount promissory notes.

For more information about PishPosh Baby, please visit their website: https://pishposhbaby.com/pages/about-us

Palladium Serves as Sole Placement Agent for $38,400,000 Financing of Darwin CX

NEW YORK, NY, December 8th, 2022 – Palladium Capital Group, LLC, today announces that it has served as sole placement agent for Darwin CX (“DCX”) for its $38.4M USD funding. The funding was co-led by Toronto-based First Ascent Ventures and California-based Felicitas Global Partners.  Additional funding was provided by New York-based Metropolitan Partners Group and Liam Lynch.

“Darwin is on its ascent to establish itself as the industry leader thanks to our strong culture led by dedicated employees and supportive partners,” said DCX Executive Chairman and lead investor Liam Lynch. “We’re thrilled to add these experienced and savvy B2B SaaS investors led by Richard Black and Tony van Marken at First Ascent Ventures, Bonar Chhay at Felicitas Global Partners, and Max Segal at Metropolitan Partners Group, to propel our next stage of growth.”

“This funding from top-tier investment groups accelerates Darwin’s mission to serve our clients with tools and capabilities to grow their subscriber bases and save up to half of their fulfilment and marketing costs,” said Darwin co-founder and CEO Laas Turnbull. “This funding means we can confidently scale our operations, build strategic channel partnerships, and continue investing in our very ambitious product roadmap, led by Michael Smith, our co-founder, CTO, and Head of Innovation.”

DCX is an industry-leading software-as-a-service platform that leverages real-time data to increase acquisition and retention rates while decreasing marketing spend for publishers and membership-based organizations. It enables data-driven transformations for brands that often have sophisticated requirements for customer acquisition and retention, reporting, and customer service.  DCX integrates seamlessly with third-party applications and fulfillment providers.  DCX delivers a far superior customer experience compared to the industry’s legacy technology and processes—the driving motivation behind another recent partnership announcement with publishing powerhouse a360 Media.

“Numerous industries that relied on legacy mainframe-based technology—costly and rigid—have been disrupted by cloud-based systems like Darwin,” said Richard Black, co-founder and Managing Partner of First Ascent Ventures. “This partnership will ensure that Darwin’s cloud-based technology will replace the legacy mainframe-based technology still used in the subscription economy.”

DCX has scaled clients by a factor of 10 in the past 18 months, adding new customers and channel partners across North America. Through a mix of organic growth and acquisition, DCX will continue in its drive to become a major voice in the subscription economy, which has grown more than 23% in the past year to $51 billion. By 2025, it is expected to be a $141-trillion economy.

“At Metropolitan, we see a large number of investment opportunities in the lower and middle market—Darwin stands out given its leadership team and growth strategy,” said Metropolitan Vice-President Max Segal.  “Partnering with First Ascent Ventures and Felicitas to support Darwin is a winning combination.”

The transaction team was led by Chief of Staff Toby McCoy, CFO Jon Soucy, and General Counsel Chris Bedor at Darwin; Senior Associate Noah Chaikof at First Ascent Ventures; Director Calvin Marks and Associate Cody Odening at Felicitas Global Partners, with support from David McQuaid, Bruce Winans, and Alfonso Alejo at Compass Securities/Palladium Capital Group; Britt Rogers at Akin Gump Strauss Hauer & Feld; Kevin Kilduff at Kilduff Law; Aaron Rothman at K&L Gates; and Rebecca Chilton at Nelson Mullins.

About Darwin CX
Darwin CX is a transformative SaaS platform at the leading edge of the subscription economy serving clients on 3 continents. It helps brands accelerate acquisition and retention—and increase loyalty—through innovative and customized check-out pages, targeted audience offerings, real-time A/B testing, and best-in-class analytics. The Darwin platform enables clients to have complete freedom and control over customer data in order to tailor the best possible customer experiences.  Darwin provides a full suite of fulfillment services to its clients through its integrations with direct mail, lettershop, in-bound mail processing, and call center partners.

About Metropolitan
Metropolitan Partners Group is a private investment firm that provides asset-based debt capital to non-sponsored situations in the domestic lower middle market space, unconstrained by industry or asset class. Metropolitan works directly with business owners and management teams to grow their balance sheets and build lasting value with its tailored capital solutions, while aiming to provide downside protection to its investors.

About First Ascent Ventures  
Founded in 2015 by Richard Black and Tony van Marken, First Ascent Ventures invests in early-stage, emerging, and growth-oriented enterprise software companies in the information technology sector. The First Ascent Ventures team bring deep bench strength as operating executives and investors having built and invested in significant, global enterprise software companies.

About Felicitas Global Partners  
Felicitas Global Partners is an alternatives investment firm that manages portfolios of secondaries, private credit, and private equity investments. Felicitas manages capital from an institutional base of asset management firms, foundations, family offices, and private wealth managers, with approximately $700M Assets Under Management.

For further information: Alea Sarkar, 1-647-400-1455, alea@darwin.cx

Palladium Raises $2,000,000 Equity Round for Hero Scientific Ltd.

NEW YORK, NY, August 1st, 2022 – Palladium Capital Group, LLC, announces that it has served as the sole placement agent for Hero Scientific Ltd. in its $2,000,000 Equity Round.

For more information about Hero Scientific, please visit their website: https://www.heroscientific.com/

Palladium Capital Group Facilitates Restructuring for Cryptyde, Inc. (NASDAQ: TYDE)

NEW YORK, NY, July 28th, 2022 – Palladium Capital Group, LLC, today announces that it has served as investment banker to Cryptyde (NASDAQ: TYDE) in restructuring some of its financing.

For details see the full 8-K filling here:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001892492/000149315222020485/form8-k.htm

Palladium Brokers Sale/Lease Back Financing for Aventine Property Group and Ayr Wellness (CNSX:AYR.A)

For more about Aventine Property Group, see here.

For more about AYR Wellness, see here.

Palladium Capital Group Advisor to Everflow on its sale to Pegasystems Inc. (NASDAQ: PEGA)

NEW YORK, NY – May 24, 2022, Palladium Capital Group, LLC (“Palladium”) announced today that it served as advisor to Everflow Software Ltda. (“Everflow”) in its acquisition by Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity. Everflow, is an innovative process mining software company based in Brazil. Everflow’s highly intuitive software will enable Pega clients to uncover and fix hidden process inefficiencies that often bog down organizational operations. Combined with Pega’s market-leading AI-powered decisioning and workflow automation capabilities, this acquisition will help Pega deliver the most complete hyperautomation solution available for enterprises.

As business complexity continues to rise, process mining has emerged as a critical tool to help organizations streamline bloated and inconsistent processes that slow employee productivity and ultimately harm the bottom line. But two major limitations hold back process mining’s full potential: first, most process mining tools are too difficult to use and are understood only by technical business consultants; second, process mining by itself can’t fix process problems, it can only identify where those problems lie and suggest possible work arounds.

Everflow will provide Pega clients with an easy-to-use process mining solution that allows businesspeople to analyze and optimize their customer and employee-related processes. It makes it simple for users to automatically model their real-world processes based on organizational activity logs. Then the software analyzes where those processes break down in the field and suggests ways to improve the approach. For example, a retail banking head may deploy Everflow to determine if customers are abandoning the bank’s mobile app when it takes too many clicks to complete a transaction, or an insurance executive may discover if back-office bottlenecks in the application approval workflow are slowing their underwriters down.

But the true power of Everflow’s elegant solution will be fully unlocked when combined with Pega’s market-leading platform for AI-powered decisioning and workflow automation – where these processes already live for many of the world’s leading organizations. When integrated, the solution will help Pega clients continuously monitor processes across the enterprise, identify process issues or deviations when they arise, and even fix them on the fly. This will evolve the process mining field beyond static modeling and deliver real-time process optimization, deploying true hyperautomation on an enterprise scale to improve operations and customer experiences.

The new process mining capability is expected to be available for Pega clients on a limited basis in Q4 this year and with general availability early next year. It will be offered as an add-on capability to Pega Process AI™ – a set of Pega Platform™ capabilities introduced last year that uses self-optimizing AI and decision management to help businesses improve their operations in real time. Terms of the deal were not disclosed.

The news will be announced today at Pega’s flagship event, PegaWorld iNspire, which is available online on Tuesday, May 24, in the Americas and Europe or Wednesday, May 25, for Asia Pacific and on replays thereafter. After the keynotes, join the Supercharge Your Pega Workflows with Process Mining and Process AI session to learn more about how Pega plans to bring process mining and AI together to deliver the most complete hyperautomation solution available.

For more information, visit www.pega.com/products/platform/process-mining .

Quotes & Commentary:

“Our acquisition of Everflow puts Pega in a position to fulfill the promise of hyperautomation like no other company in the industry,” said Alan Trefler, founder and CEO, Pega. “When combined with our intelligent low-code platform, Everflow will help Pega root out business process inefficiencies from end to end in even the largest and most complex enterprises. We know that digital transformation never stops, and this unique and powerful software combination will allow for continuous improvement in a time of continuous change.”

“We built Everflow solutions to make the power of process mining accessible and actionable for anyone to use,” said Kleber Stroeh, former CEO of Everflow and now current vice president, process mining, Pega. “This philosophy fits perfectly with Pega’s mission to crush business complexity by democratizing the tools that help organizations operate at their full potential. We look forward to joining with Pega and using our solution to help solve problems for some of the most important businesses in the world.”

Supporting Resources:

• Background: Pega process mining
• Video: Pega Process AI
• Background: Pega Process AI
• Background: Pega AI powers decisioning that drives better outcomes
• eBook: Ready to bring AI to your business?
• Analyst report: Pega named leader in the Forrester Wave: Digital Process Automation Q4 2021 report

About Pegasystems
Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world’s leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information, please visit www.pega.com.

Press Contact:
Sean Audet
Pegasystems Inc.               
sean.audet@pega.com 
(617) 528-5230
Twitter: @pega

All trademarks are the property of their respective owners.

SOURCE Pegasystems Inc.