Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Verano Holdings Corp. incurred credit facility of $350,000,000 with Chicago Atlantic Admin, LLC at prime rate then in effect plus 6.50% maturing October 30, 2026.
- Instrument
- credit facility
- Principal
- $350,000,000
- Counterparty
- Chicago Atlantic Admin, LLC
- Rate
- prime rate then in effect plus 6.50%
- Maturity
- October 30, 2026
- Event
- incurrence
Exact text from the filing
The Credit Agreement provides for $350,000,000 in principal borrowings in the aggregate
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Verano Holdings Corp. entered into Credit Agreement with Chicago Atlantic Admin, LLC valued at $350,000,000 (effective 2022-10-27).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Chicago Atlantic Admin, LLC
- Value
- $350,000,000
- Effective
- 2022-10-27
Exact text from the filing
On October 27, 2022, Verano Holdings Corp., a British Columbia corporation (the “ Company ”), entered into a Credit Agreement (the “ Credit Agreement ”), by and among the Company, subsidiaries of the Company from time-to-time party thereto (together with the Company, collectively, the “ Borrowers ”), lenders from time-to-time party thereto (the “ Lenders ”), and Chicago Atlantic Admin, LLC, a Delaware limited liability company (“ Chicago Atlantic ”), as administrative agent for the Lenders.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Verano Holdings Corp. terminated Prior Credit Agreement with Chicago Atlantic Admin, LLC (effective 2022-10-27).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Chicago Atlantic Admin, LLC
- Effective
- 2022-10-27
Exact text from the filing
As set forth in Item 1.01 above, the Prior Credit Agreement and related ancillary credit documents will be terminated and all amounts owing thereunder, including applicable prepayment premiums, are being paid in full at the time the term loans are funded under the Credit Agreement.
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