Florida-based multistate operator Trulieve Cannabis secured a $25 million loan and hired a new chief financial officer.
The commercial loan was secured against a Florida cultivation site, according to digital publication Financial Regulation News.
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Trulieve will repay the loan over five years at an interest rate of 8.31%.
Two banks will provide the loan, which will be used for “general corporate purposes,” Financial Regulation News reported.
First Federal Bank is the lead agent.
The $25 million loan comes after Trulieve’s November announcement that it plans to redeem all of its outstanding 9.75% senior secured notes with a principal worth $130 million,
Meanwhile, the company said in a news release it appointed Wes Getman as chief financial officer effective Jan. 1.
Getman has worked in
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