Jushi Holdings, a Florida-based cannabis multistate operator, said it secured $68 million in private placement commitments for debt financing.
Proceeds from the offering, which is expected to close in late November or early December, will be used to redeem outstanding 10% senior secured notes due in January, and general corporate purposes, including “working capital, capital expenditures and potential acquisitions,” according to a Tuesday news release.
ADVERTISEMENT
The issuance of the senior lien notes and warrants included entities affiliated with Jim Cacioppo, Jushi’s CEO and chair, subscribed for $3 million and Denis Arsenault, a significant shareholder in the company, for $13.4 million.
The notes will mature four years after issuance and carry an interest rate of 12% annually.
ADVERTISEMENT
Jushi on Monday reported its preliminary third-quarter results:
$72.8 million in revenue, up nearly 35% year-over-year, primarily driven by acquisitions in Nevada and
Read full article on Marijuana Business Daily
