---
schema_version: "secwatch.filing_event.v1"
accession: "0001522767-23-000004"
form_type: "8-K"
ticker: "MRMD"
cik: "0001522767"
company_name: "MARIMED INC."
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T10:45:00.160268+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MariMed closes $35M credit facility with Chicago Atlantic to fund expansion and acquisitions

## Summary
- Borrowed $30M at close of $35M secured credit facility; can draw additional $5M over six months.
- Funds will complete IL cultivation/processing facility, MO processing kitchen, expand MA and MD facilities, and repay Kind Therapeutics seller notes.
- Interest rate floating at prime plus 5.75%; warrants issued: 19,148,936 shares at $0.47 per share (30% coverage at 20% premium).
- Debt/EBITDA ratio of 1.5X and blended interest rate of 10.5% among lowest in cannabis industry.
- Maturity of three years with potential extension to five years; no prepayment penalty after 20 months.

## SEC filing metadata
- accession: 0001522767-23-000004
- form_type: 8-K
- ticker: MRMD
- cik: 0001522767
- company_name: MARIMED INC.
- filed_at: 2023-01-24T23:59:59+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/1522767/000152276723000004/0001522767-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000004/mrmd-20230124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001522767-23-000004
- JSON: https://secwatch.observer/filing/0001522767-23-000004.json
- Plain text: https://secwatch.observer/filing/0001522767-23-000004.txt

## Key facts
- Debt Financings
  MARIMED INC. incurred credit facility of $35 million in principal borrowings; $30 million initially funded with Chicago Atlantic Admin, LLC at floating annual interest rate equal to the prime rate then in effect plus 5.75% maturing January 24, 2026, subject to extension to January 24, 2028.
  - Instrument: credit facility
  - Principal: $35 million in principal borrowings; $30 million initially funded
  - Counterparty: Chicago Atlantic Admin, LLC
  - Rate: floating annual interest rate equal to the prime rate then in effect plus 5.75%
  - Maturity: January 24, 2026, subject to extension to January 24, 2028
  - Event: incurrence
  source text: Kind acquisition in April 2022. The remaining balance, if any, will be used to fund acquisitions. Principal, Security, Interest and Prepayments The Credit Agreement provides for $35 million in principal borrowings at the Borrowers’ option in the aggregate and further provides the Borrowers with the right, subject to customary conditions, to request an additional
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000004/0001522767-23-000004-index.htm
- Material Agreements
  MARIMED INC. entered into Loan and Security Agreement with Chicago Atlantic Admin, LLC valued at $35 million credit facility with $30 million funded at closing and up to $5 million additional drawd (effective 2023-01-24).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Chicago Atlantic Admin, LLC
  - Value: $35 million credit facility with $30 million funded at closing and up to $5 million additional drawd
  - Effective: 2023-01-24
  source text: On January 24, 2023, MariMed Inc., a Delaware corporation (the “ Company ”), entered into a Loan and Security 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. Proceeds from the Credit Agreement are designated to complete the build-out of a new cultivation and processing facility in Illinois, complete the buildout of a new processing kitchen in Missouri, expand existing cultivation and processing facilities in Massachusetts and Maryland, fund certain capital expenditures, and to repay in full the Kind Therapeutics seller notes incurred in connection with the Kind acquisition in April 2022. The remaining balance, if any, will be used to fund acquisitions. Princip
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000004/0001522767-23-000004-index.htm

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