Jushi Holdings, a vertically integrated, marijuana multistate operator, refinanced a roughly $53 million senior secured credit facility.
According to a news release from the Boca Raton, Florida-based company, the refinancing was accomplished through:
The issuance of a new $48.5 million senior secured “term loan.” The use of approximately $7.4 million from cash on hand, which includes fees associated with the refinancing.
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The $48.5 million loan bears an annual interest rate of 12.25%, payable quarterly, the release notes.
The loan matures on the earlier of 30 months from the closing date or 91 days before the maturity of Jushi’s existing “second lien notes” due Dec. 7, 2026.
Investors providing the loan to Jushi received five-year warrants at 40% coverage and with
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