$68 Million in Debt-Financing Commitments Secured by Jushi
MJBizDaily recently reported that Jushi Holdings, a cannabis multistate operator based in Florida, claims to have secured $68 million in private placement commitments for debt financing.
The proceeds from this offering will be allocated towards redeeming outstanding 10% senior secured notes due in January, along with general corporate purposes. This includes “working capital, capital expenditures and potential acquisitions.”
The senior lien notes and warrants issued include entities connected to Jim Cacioppo, Jushi’s CEO and chair, who subscribed for $3 million and Denis Arsenault, one of the main shareholders in the company, for $13.4 million.
These notes will take four years to mature from issuance and have an interest rate of 12 percent per year.