---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-016466"
form_type: "8-K"
ticker: "VRNO"
cik: "0001848416"
company_name: "Verano Holdings Corp."
filed_at: "2025-10-01T23:59:59+00:00"
generated_at: "2026-05-17T05:07:24.195984+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001493152-25-016466
- form_type: 8-K
- ticker: VRNO
- cik: 0001848416
- company_name: Verano Holdings Corp.
- filed_at: 2025-10-01T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1848416/000149315225016466/0001493152-25-016466-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1848416/000149315225016466/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-016466
- JSON: https://secwatch.observer/filing/0001493152-25-016466.json
- Plain text: https://secwatch.observer/filing/0001493152-25-016466.txt

## Key facts
- Debt Financings
  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
  source text: The Revolver provides for a $75,000,000 revolving loan facility, $50,000,000 of which was drawn upon the Closing Date
  evidence_url: https://www.sec.gov/Archives/edgar/data/1848416/000149315225016466/0001493152-25-016466-index.htm

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