Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Vireo Growth Inc. incurred term loan of US$49.0 million with IIP-NY 2 LLC (Seller) at 15% per annum maturing May 25, 2027 (with extension options).
- Instrument
- term loan
- Principal
- US$49.0 million
- Counterparty
- IIP-NY 2 LLC (Seller)
- Rate
- 15% per annum
- Maturity
- May 25, 2027 (with extension options)
- Event
- incurrence
Exact text from the filing
On May 26, 2026, Buyer entered into a term loan with Seller in the original principal amount of US$49.0 million (the “Seller Note”). The Seller Note is evidenced by a promissory note and is secured by a first-priority mortgage, assignment of leases and rents, security agreement, financing statement and fixture filing encumbering the Property and related collateral (collectively, the “Seller Mortgage”). Under the Seller Note and related loan documents: · The original principal amount is US$49.0 million. · The Seller Note bears interest at 15% per annum on the outstanding principal balance, payable in monthly installments of interest only. · The initial maturity date of the Seller Note is May 25, 2027. · Buyer has the right, subject to the satisfaction of specified conditions, to extend the maturity date of the Seller Note for up to two additional one-year periods, each upon payment of an extension fee equal to 1.0% of the then-outstanding principal balance and the absence of any uncured
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Vireo Growth Inc. incurred term loan of US$41.0 million with Chicago Atlantic Financial Services, LLC (Chicago Atlantic) at prime plus 5.75% per annum maturing May 28, 2028.
- Instrument
- term loan
- Principal
- US$41.0 million
- Counterparty
- Chicago Atlantic Financial Services, LLC (Chicago Atlantic)
- Rate
- prime plus 5.75% per annum
- Maturity
- May 28, 2028
- Event
- incurrence
Exact text from the filing
Concurrently with the closing of the acquisition of the Property and the issuance of the Seller Note, Buyer entered into a loan agreement with Chicago Atlantic Financial Services, LLC (together with its affiliates, “Chicago Atlantic”), pursuant to which Chicago Atlantic provided Buyer with a term loan in the original principal amount of US$41.0 million (the “Chicago Atlantic Loan”). The Chicago Atlantic Loan is evidenced by a promissory note and is secured by a second-priority mortgage, assignment of leases and rents, security agreement, financing statement and fixture filing encumbering the Property and related collateral (collectively, the “Chicago Atlantic Mortgage”). Under the Chicago Atlantic Loan and related loan documents: · The original principal amount is US$41.0 million. · The Chicago Atlantic Loan bears interest at prime plus 5.75% per annum and matures on May 28, 2028. The Chicago Atlantic Loan allows for voluntary prepayment of the loan subject to a make-whole premium as d
View on SEC.gov