Vireo closes $153M refinancing; expects $10M+ annual interest savings

Vireo Growth Inc.

Closed $120M first lien term loan at 8.3% interest with bank syndicate; oversubscribed.
Closed $33M second lien term loan with $50M accordion from Chicago Atlantic.
Proceeds used to retire ~$114M existing senior debt, recapture $10M from WholesomeCo merger, and refinance $10M convertible note.
Expected annual interest savings of more than $10M; balance sheet strengthened with over $100M cash.
CEO Mazarakis may receive bonus of 0.8% of refinanced principal; CFO Macdonald 0.4%.

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