Jushi Holdings Inc. (JUSHF): debt financing — Jushi closes additional $3M notes tranche for total $72M; secures $10M equipment facility and $1.9M mortgage draw

Jushi Holdings Inc.

Second tranche closed Dec 9, 2022: $3M additional 12% second lien notes and 719,080 warrants to CEO Jim Cacioppo; total proceeds now $72M.
Notes mature Dec 7, 2026, pay 12% cash quarterly; warrants at $2.086, 50% coverage, 4-year term.
$1.5M in additional subscriptions pending close; CEO and significant stockholder Denis Arsenault participated in earlier tranche ($14.4M).
Secured $10M equipment lease financing commitment from XS Financial; expects ~$2M sale-leaseback of equipment.
Plans to draw $1.9M on Arlington, VA real estate mortgage in Q1 2023.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Jushi Holdings Inc. incurred senior notes of additional aggregate principal amount of $3 million of Notes with James A. Cacioppo.

Instrument: senior notes
Principal: additional aggregate principal amount of $3 million of Notes
Counterparty: James A. Cacioppo
Event: incurrence

Exact text from the filing

On December 9, 2022 (the “Second Tranche Closing Date”), the Company closed on a second tranche of the Offering for an additional aggregate principal amount of $3 million of Notes and 719,080 Warrants purchased by James A. Cacioppo, the Company’s Chief Executive Officer, Chairman and Founder.

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Source: SEC EDGAR

accession 0001628280-22-032004

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