Arena Finance II, LLC's US$45M Note Offering

Winston & Strawn represented Arena Finance II, LLC, as agent, in connection with a private placement of US$45M of 6.75% senior secured notes due September 30, 2025 (the “Notes”) to certain qualified institutional buyers and institutional accredited investors. The obligations of Arena Finance II, LLC under the Notes are guaranteed by Arena Finance, LLC and are secured by collateral that includes the assets of Arena Finance II, LLC. Arena Finance II, LLC is a limited liability company controlled by Westaim and part of the Arena FINCOs.