---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-029664"
form_type: "8-K"
ticker: "VRNO"
cik: "0001848416"
company_name: "Verano Holdings Corp."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-23T00:13:37.659000+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Verano Holdings enters $350M credit agreement; replaces prior facility

## Summary
- New $350M senior secured credit facility with Chicago Atlantic Admin as agent; proceeds repay all obligations under May 2021 prior credit agreement.
- Interest rate: prime plus 6.50% floating; steps up 3.00% on default and 6.00% on material default.
- Amortization of $350,000/month with final principal due October 30, 2026.
- Borrowers may request up to $100M incremental term loan and incur up to $120M additional secured debt on excluded real estate.
- CEO George Archos participates as lender for $1M of the facility.

## SEC filing metadata
- accession: 0001493152-22-029664
- form_type: 8-K
- ticker: VRNO
- cik: 0001848416
- company_name: Verano Holdings Corp.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/0001493152-22-029664-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-029664
- JSON: https://secwatch.observer/filing/0001493152-22-029664.json
- Plain text: https://secwatch.observer/filing/0001493152-22-029664.txt

## Key facts
- Debt Financings
  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
  source text: The Credit Agreement provides for $350,000,000 in principal borrowings in the aggregate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/0001493152-22-029664-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/0001493152-22-029664-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/0001493152-22-029664-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.