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Nonprofit News Organization The City Closes Financing with SeaChange
- Client News
- September 27, 2024
Practices
Paul, Weiss advised nonprofit, nonpartisan digital news platform City Report, Inc., (The City), in preparing and negotiating a demand promissory note for of up to $500,000, together with a related guaranty agreement, with SeaChange Capital Partners, Inc. The City launched in April 2019 with a mission of providing the people of New York with hard-hitting news reporting. The financing will provide additional liquidity to support the publication’s operations and goals of delivering free high-quality and high-impact accountability reporting to New Yorkers. SeaChange is a nonprofit that provides grants, loans and advice to help nonprofits works through complex financial and organizational challenges.
The Paul, Weiss team on the pro bono matter included partner Christopher Cummings, and associates Sheena Singh and Dana O’Shea.