secwatch.observer — SEC 8-K summary
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Issuer:     NewLake Capital Partners, Inc. (NLCP)
CIK:        0001854964
Form:       8-K
Filed at:   2022-05-11T23:59:59+00:00
Accession:  0001437749-22-011910
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NewLake Capital Partners secures $30M revolving credit facility, expandable to $100M
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- Five-year facility with initial $30M commitment; can increase to $100M with additional lenders.
- Fixed interest rate of 5.65% for first 3 years, then floating at Prime plus 1% (min 4.75%).
- Covenants include minimum $1M liquidity and 1.50x debt service coverage ratio quarterly.
- Borrowing base set at 50% of acquisition/improvement costs of eligible fee-owned properties.
- First credit facility for the company; proceeds to fund investments in cannabis real estate.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854964/000143774922011910/0001437749-22-011910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854964/000143774922011910/nlcp20220510c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-011910

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer