secwatch.observer — SEC 8-K summary
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Issuer:     Verano Holdings Corp. (VRNO)
CIK:        0001848416
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001493152-22-029664
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/0001493152-22-029664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1848416/000149315222029664/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-029664

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