Marijuana multistate operator Standard Wellness Holdings has received a $14 million senior secured credit line from Advanced Flower Capital to refinance existing debt.
According to a Thursday news release, the Ohio-based MSO’s debt repayment will include fully meeting its obligation with New York-headquartered FocusGrowth Capital Partners as well as the early payment of a seller note The Cannabist Co. for the 2024 acquisition of a medical marijuana dispensary in Springville, Utah.
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The operator also said it will use the financing for a dispensary acquisition in St. Louis.
The new credit line through Advanced Flower Capital, a commercial mortgage cannabis real estate investment trust based in West Palm Beach, Florida, bears an interest rate at 12.5%.
“This credit facility allows us to streamline
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