Verano closes $75M revolving credit facility, draws $50M to retire higher-cost debt

Verano Holdings Corp.

$75M revolver agented by Chicago Atlantic; $50M drawn to repay existing senior secured debt with no prepayment penalty.
Floating rate: SOFR + 6% (4% SOFR floor); no amortization; matures September 29, 2028.
Remaining $25M available for strategic initiatives; facility secured by selected real estate.
CEO states the facility fortifies balance sheet and provides lower-cost debt; called the largest revolver among U.S. cannabis operators.
Facility allows proportionate real estate release given outstanding balance ≤60% appraised value of remaining pledged real estate.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Verano Holdings Corp. incurred revolving credit of $75,000,000 with Chicago Atlantic Admin, LLC at one-month Term SOFR (subject to a minimum 4% SOFR floor) plus 6% maturing September 29, 2028.

Instrument: revolving credit
Principal: $75,000,000
Counterparty: Chicago Atlantic Admin, LLC
Rate: one-month Term SOFR (subject to a minimum 4% SOFR floor) plus 6%
Maturity: September 29, 2028
Event: incurrence

Exact text from the filing

The Revolver provides for a $75,000,000 revolving loan facility, $50,000,000 of which was drawn upon the Closing Date

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306 debt financings filed in the last 30 days. Browse all debt financings →

Verano Holdings Corp. filing history →

Source: SEC EDGAR

accession 0001493152-25-016466

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