secwatch.observer — SEC 8-K summary
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Issuer:     MARIMED INC. (MRMD)
CIK:        0001522767
Form:       8-K
Filed at:   2023-01-24T23:59:59+00:00
Accession:  0001522767-23-000004
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1522767/000152276723000004/0001522767-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1522767/000152276723000004/mrmd-20230124.htm
  HTML page:      https://secwatch.observer/filing/0001522767-23-000004

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