Opinion ID: 6350020
Heading Depth: 2
Heading Rank: 2

Heading: Stream’s Investors.

Text: Since Stream’s founding in 2009, Stream raised approximately $160 million from third-party investors in the form of a combination of debt and equity. Stream’s senior secured creditor, SLS Holdings VI, LLC (“SLS”), loaned $6 million to Stream through a series of secured notes (the “SLS Notes”). Stream pledged all of its assets, and the assets of its wholly-owned subsidiaries, as security for the SLS Notes and executed a security agreement which authorized SLS to take control of Stream’s assets to satisfy the SLS Notes if Stream defaulted. Stream’s junior secured creditor, Hawk Investment Holdings Limited (“Hawk”), loaned Stream more than £50 million, plus $1.336 million, through a series of junior secured notes (the “Hawk Notes”). Subject to the senior security interest held by SLS, Stream pledged all of its assets as security for the Hawk Notes and executed a security agreement that authorized Hawk to take control of Stream’s assets to satisfy the Hawk Notes if Stream defaulted. outside director but resigned in July 2019 over disputes with the Rajan brothers. From 2011 until 2014, Shad Stastney, the principal of Stream’s senior secured creditor, served as an outside director. He rejoined the board in 2019 and served as Chief Financial Officer before resigning on January 30, 2020. Id. at 1023. The Rajan brothers also dominated Stream at the officer level. Mathu has served as Stream’s Chief Executive Officer since the Company’s founding, and Raja served as general counsel and Chief Operating Officer since soon after the Company’s founding. 5 Id. at 1023. 5