Cannabist Co Holdings Inc.: debt financing — Cannabist Co issues $25.75M 9% senior secured convertible notes due 2027

Cannabist Co Holdings Inc.

New notes principal $19.5M; exchange notes $6.25M for $5M of existing 6.0% notes due June 2025.
Conversion price $0.305 per share; original issue discount $800 per $1,000 principal (net ~$15.6M).
Proceeds to repay $13.2M of 13% senior secured notes due May 2024, plus working capital.
9.00% interest payable semi-annually; maturity March 2027; senior secured obligations.

item 1.01 item 2.03 item 2.04 item 3.02 item 9.01

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

Cannabist Co Holdings Inc. incurred convertible notes of US$25.75 million aggregate principal amount with institutional investors at 9.00% per year maturing March 2027.

Instrument: convertible notes
Principal: US$25.75 million aggregate principal amount
Counterparty: institutional investors
Rate: 9.00% per year
Maturity: March 2027
Event: incurrence

Exact text from the filing

On or about March 15, 2024, The Cannabist Company Holdings Inc. (the “Company”) entered into subscription agreements with institutional investors (the “Investors”) for the purchase and sale of US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027 (the “Notes”)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cannabist Co Holdings Inc. entered into Seventh Supplemental Indenture with Odyssey Trust Company valued at US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027 (effective 2024-03-15).

Action: entry
Agreement: notes offering
Counterparty: Odyssey Trust Company
Value: US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027
Effective: 2024-03-15

Exact text from the filing

On or about March 15, 2024, The Cannabist Company Holdings Inc. (the “Company”) entered into subscription agreements with institutional investors (the “Investors”) for the purchase and sale of US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027 (the “Notes”) in a concurrent private brokered offering

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cannabist Co Holdings Inc. entered into the subscription agreements with the Investors valued at US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027 (effective 2024-03-15).

Action: entry
Agreement: notes offering
Counterparty: the Investors
Value: US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027
Effective: 2024-03-15

Exact text from the filing

On or about March 15, 2024, The Cannabist Company Holdings Inc. (the “Company”) entered into subscription agreements with institutional investors (the “Investors”) for the purchase and sale of US$25.75 million aggregate principal amount of 9.00% senior secured convertible notes due 2027 (the “Notes”) in a concurrent private brokered offering (the “Brokered Offering”) and private non-brokered offering (the “Non-Brokered Offering” and together with the Brokered Offering, the “Offerings”).

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001193125-24-072818

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.