---
schema_version: "secwatch.filing_event.v1"
accession: "0001522767-23-000129"
form_type: "8-K"
ticker: "MRMD"
cik: "0001522767"
company_name: "MARIMED INC."
filed_at: "2023-11-20T23:59:59+00:00"
generated_at: "2026-06-07T23:20:43.004649+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MariMed closes $58.7M debt refinancing at 8.43% fixed rate; expects $4.7M savings in first year

## Summary
- 10-year loan from Needham Bank with interest-only payments for first 12 months, then 20-year amortization.
- Proceeds used to pay off $46.8M in existing debt (Chicago Atlantic, Bank of New England, Ermont seller note).
- Remaining funds held in escrow for Hagerstown, MD cultivation facility expansion.
- Loan secured solely by MD and MA assets; IL, OH, DE assets and brands (Betty's Eddies, Nature's Heritage) now unencumbered.
- No warrants or equity component; estimated $3.5M annual savings in years 2-5.

## SEC filing metadata
- accession: 0001522767-23-000129
- form_type: 8-K
- ticker: MRMD
- cik: 0001522767
- company_name: MARIMED INC.
- filed_at: 2023-11-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000129/0001522767-23-000129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000129/mrmd-20231116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001522767-23-000129
- JSON: https://secwatch.observer/filing/0001522767-23-000129.json
- Plain text: https://secwatch.observer/filing/0001522767-23-000129.txt

## Key facts
- Debt Financings
  MARIMED INC. incurred loan of $58.7 million with Needham Bank at Initial five-years: 8.43%. Interest rate resets after five-years to the FHLB Rat maturing Ten years.
  - Instrument: loan
  - Principal: $58.7 million
  - Counterparty: Needham Bank
  - Rate: Initial five-years: 8.43%. Interest rate resets after five-years to the FHLB Rat
  - Maturity: Ten years
  - Event: incurrence
  source text: On November 16, 2023, Mari Holdings MD LLC, Hartwell Realty Holdings LLC, Kind Therapeutics USA, LLC, ARL Healthcare Inc., and MariMed Advisors, Inc., each a wholly-owned direct or indirect subsidiary of the Registrant (collectively, the “ Borrowers ”) entered into a Loan Agreement (the “ Loan Agreement ”), by and among Borrowers, and Needham Bank, a Massachusetts co-operative bank (the “ Lender ”) pursuant to which the Lender loaned to the Borrowers an aggregate principal amount of $58.7 million (the “ Loan Transaction ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000129/0001522767-23-000129-index.htm
- Material Agreements
  MARIMED INC. entered into Loan Agreement with Needham Bank valued at $58.7 million (effective 2023-11-16).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Needham Bank
  - Value: $58.7 million
  - Effective: 2023-11-16
  source text: On November 16, 2023, Mari Holdings MD LLC, Hartwell Realty Holdings LLC, Kind Therapeutics USA, LLC, ARL Healthcare Inc., and MariMed Advisors, Inc., each a wholly-owned direct or indirect subsidiary of the Registrant (collectively, the “ Borrowers ”) entered into a Loan Agreement (the “ Loan Agreement ”), by and among Borrowers, and Needham Bank, a Massachusetts co-operative bank (the “ Lender ”) pursuant to which the Lender loaned to the Borrowers an aggregate principal amount of $58.7 million (the “ Loan Transaction ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000129/0001522767-23-000129-index.htm

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