secwatch.observer — SEC 8-K summary
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Issuer:     Verano Holdings Corp. (VRNO)
CIK:        0001848416
Form:       8-K
Filed at:   2024-01-02T23:59:59+00:00
Accession:  0001493152-24-000123
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verano subsidiary borrows $28M at 8.34% fixed, secured by Florida property
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- $27,998,750 loan from First Federal Bank; 300-month amortization, balloon Dec 2028.
- Fixed annual interest 8.34% (default 18%); prepayment penalties 0-2% based on timing.
- Secured by mortgage on 15.24-acre property at 5909 US Hwy 41 N, Apollo Beach, FL.
- Proceeds used to recoup cash spent on capital improvements to strengthen balance sheet.
- Guaranteed by Verano Holdings Corp. and an affiliate subsidiary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1848416/000149315224000123/0001493152-24-000123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1848416/000149315224000123/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-000123

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