Medicine Man Technologies, Inc.: debt financing — Medicine Man Technologies subsidiary misses $0.7M payment; default triggers $1.5M cash sweep

Medicine Man Technologies, Inc.

Subsidiary PBS Holdco missed $0.3M principal and $0.4M interest payment due March 3, 2025.
Received default notice March 7; default interest rate of 19% per annum began accruing.
Current loan balance under the agreement is approximately $11 million.
On March 10, collateral agent swept ~$1.5M from borrower bank accounts under control agreements.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Medicine Man Technologies, Inc. reported a default on loan of $11 million with SHWZ Altmore, LLC at simple interest per annum equal to 15% plus 4%.

Instrument: loan
Principal: $11 million
Counterparty: SHWZ Altmore, LLC
Rate: simple interest per annum equal to 15% plus 4%
Event: default

Exact text from the filing

March 3, 2025, and such default interest continues to accrue during the continuance of the Event of Default. The current balance due under the Loan Agreement is approximately $11 million. On or around March 10, 2025, the Collateral Agent exercised control of certain of the Borrowers’ bank accounts pursuant to certain deposit account control agreements with the

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Source: SEC EDGAR

accession 0001104659-25-023533

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