Grace M. Sur

Admissions

• New York
• Connecticut

Education

• Columbia Law School, LL.M.
  - Associate Editor, Journal of Tax Law
• University of Pennsylvania Carey Law School, J.D.
  - Senior Writer, RegBlog
  - Senior Editor, Journal of International Law
  - Executive Editor, East Asia Law Review
• Brown University, B.A., magna cum laude
  - Phi Beta Kappa

Experience

• Duane Morris LLP
  - Associate, 2022-present
• Mayer Brown LLP
  - Associate, 2016-2021
• Credit Suisse AG, Zurich, Switzerland
  - Global Client Tax Policy Counsel, 2015-2016
• Paul Hastings LLP
  - Associate, 2013-2015
• Withers Bergman LLP
  - Associate, 2012-2013

Representative Matters

• Represented a major national bank in connection with its $35 million credit facility for the technology, media and telecom group of a vacation travel company, consisting of a $12 million initial term loan, $15 million revolving loan and $8 million delayed draw term loan.

• Acted as special counsel to a physicians group in obtaining a $30 million revolving line of credit from a leading bank; the physicians group is a 501(c)(3) charitable entity that serves as an employing vehicle for physicians who provide clinical services and teach residents and medical students within the medical school while pursuing clinical research to advance the scope of medical knowledge in the community.

• Represented an FDIC insured credit card issuer in its acquisition of $400 million in consumer loans and subsequent purchase of up to $900 million in personal loans originated by a leading U.S. digital marketplace bank.

• Advised Merrick Bank on purchasing $500 million in outstanding loan participations from the GreenSky program, which arranges consumer loans for home improvement projects. Merrick Bank’s parent company, CardWorks, Inc., as part of a consortium of investors, purchased the GreenSky platform from Goldman Sachs earlier this year, and Merrick Bank obtained an option to buy additional loan participations each month for a year after the closing, which could result in additional purchases totaling $240 to $360 million.

• Represented FiOptix Inc., a leading provider of telecommunications infrastructure and fiber deployment services throughout the US, in its acquisition of QualTek LLC’s Wireline fiber and Fulfillment business units, a major builder of telecommunications infrastructure throughout North America, including QualTek’s legacy brands of NX Utilities, ACI and Urban Cable. FiOptix, with 27 locations across the country, specializes in fiber deployment, engineering and design services, construction, splicing, activation, and fulfillment services.

• Advised Cardworks, Inc., a diversified consumer finance service provider, as part of a consortium of institutional investors including Sixth Street Partners and KKR, in acquiring the GreenSky lending platform from Goldman Sachs; GreenSky, the largest U.S. lending platform for home improvement loan originations by banks, is a leading technology company that powers commerce at the point of sale, and its scalable and proprietary technology platform enables merchants to provide frictionless promotional payment options to consumers. 

• Represented Roth Capital Partners as lead bookrunner and representative of the underwriters for a public offering by Dragonfly Energy Holdings Corp. (Nasdaq: DFLI), an industry leader in energy storage and producer of deep cycle lithium-ion storage batteries. The public offering was of 10 million shares of common stock and investor warrants to purchase up to an aggregate of 10 million shares of common stock. Dragonfly simultaneously closed on the sale of an additional 1.4 million shares of common stock and investor warrants to purchase up to an aggregate of 1.4 million shares of common stock, which were sold pursuant to the partial exercise of the underwriters’ over-allotment option.

• Represented an SBIC fund in its $40 million term loan facility to a leader in solar panel installation, consisting of a $27 million term loan and a $13 million delayed draw term loan, secured by all assets of the borrowers.

• Represented top 15 U.S. bank as lead arranger and administrative agent in a $90 million senior secured credit facility, consisting of a term loan and a revolver, with two top five money center banks as co-syndication agents and another top 25 bank as participant lender.

• Represented Armstrong World Industries, Inc. (NYSE: AWI), an international designer and manufacturer of commercial and residential ceiling, wall and suspension system solutions, in obtaining $950 million in credit facilities ($500 million revolver and $450 million term loan).

• Represented Metropolitan Commercial Bank in an acquisition mortgage and revolving financing in support of the purchase of the real estate and operational assets consisting of a 126-bed licensed skilled nursing facility, a 120-bed licensed skilled nursing facility, and a 56-bed licensed skilled nursing facility, all located in Florida, consisting of a term loan of up to $32.3 million, a revolving loan of $6 million, and a mezzanine loan of $3.2 million.

• Represented Bankwell Bank in a term loan of $10.2 million, a capital expenditures loan of $2.6 million, and a $1.3 million revolving line of credit loan to the purchaser of a skilled nursing facility and assisted living facilities in Alabama.

• Represented StoneMor Inc. (NYSE: STON), a leading owner and operator of cemeteries and funeral homes across the United States and Puerto Rico in obtaining a $45 million senior secured asset-based revolving credit facility from Signature Bank. 

• Advised on the purchase and eventual sale of a specialty chemical supplier by a middle market private equity firm.

• Advised on the sale of a provider of technical services and solutions to the maritime industry by a middle market private equity firm.

• Advised on purchase of a logistics management company and a coating additives manufacturer by a middle market private equity firm.

• Supported the deal team in connection with the initial public offering of Altice USA.