Torain Group Contract Amended for $39.5 Million Bond Raise
Newark Parking AuthorityCity · Newark, NJ- Disclosed value
- Existing contract: not to exceed $50,000; First Amendment increased amount to $100,000; Second Amendment adds services for a direct capital raise as Private Placement Agent in an amount not to exceed $39,500,000
- From resolution
- Document date
- Nov 22, 2022
The 30-second brief
The Parking Authority of the City of Newark amended The Torain Group's financial advisor contract to add private placement agent services for a tax-exempt bond refinancing. The added scope covers a direct capital raise of up to $39.5 million, while the original contract term remains January 1 through December 31, 2022.
Torain Group holds this amended contract with Newark Parking Authority.
Term as filed: Original contract: January 1, 2022 – December 31, 2022; Second Amendment ratified from January 1, 2022 through November 22, 2022.
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Contract details
- Contract type
- Amended
- Amount
- Existing contract: not to exceed $50,000; First Amendment increased amount to $100,000; Second Amendment adds services for a direct capital raise as Private Placement Agent in an amount not to exceed $39,500,000
- Document date
- November 22, 2022
- Term
- Original contract: January 1, 2022 – December 31, 2022; Second Amendment ratified from January 1, 2022 through November 22, 2022
- Vendor
- Torain Group
- Agency
- Newark Parking Authority
- Source document
- Parking Authority of the City of Newark Resolution Approval of Bills and Professional Services Contracts 2022-11-22 (Resolution)
Torain Group's other public contracts
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Questions about this contract
Who was awarded the amended contract by Newark Parking Authority?
Torain Group was awarded this amended contract by Newark Parking Authority, as recorded on November 22, 2022. The contract value is Existing contract: not to exceed $50,000; First Amendment increased amount to $100,000; Second Amendment adds services for a direct capital raise as Private Placement Agent in an amount not to exceed $39,500,000.
How much is the Torain Group contract with Newark Parking Authority worth?
The Torain Group contract with Newark Parking Authority is valued at Existing contract: not to exceed $50,000; First Amendment increased amount to $100,000; Second Amendment adds services for a direct capital raise as Private Placement Agent in an amount not to exceed $39,500,000, covering amended work.
What type of contract is this?
This is a Amended contract, documented as a resolution record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Parking Authority of the City of Newark Resolution Approval of Bills and Professional Services Contracts 2022-11-22 (Resolution), dated November 22, 2022 from Newark Parking Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Torain Group hold?
Torain Group may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Newark Parking Authority currently buying?
Explore Newark Parking Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.