Monday, October 20, 2025

Cresco Labs Announces US$200 Million Senior Secured Credit Agreement

Cresco Labs (CSE: CL) appears to be burning through cash like a madman. The firm this morning announced that it was raising funds yet again, this time in via a senior secured term loan which has the optionality to be as large as US$200 million. The financing is through a “broad syndicate of lenders.”

Total up front cash available to Cresco Labs through the financing will total out at US$100 million, which the firm expects to draw on by January 30, 2020. The funds drawn will be put towards the expansion of the company’s Illinois operations, closing and integration costs of currently pending acquisitions, and for other strategic growth initiatives.

The financing follows a US$50 million leaseback transaction for its Lincoln, Illinois facility that occurred in December, along with a US$55 million at-the-market offering that was announced in the week prior, and a US$38 million leaseback arrangement for the firms Ohio assets in late November.

The latest financing, which will see an initial draw down of US$100 million, currently has an undisclosed term. The company identified that of the total US$200 million available, funds drawn down for a term of 18 months will see an interest rate of 12.7% per annum. Meanwhile, funds drawn down for a 24 month term will have an interest rate of 13.2%. Interest is payable quarterly in arrears in both instances.

Cresco Labs last traded at $8.30 on the CSE.


Information for this briefing was found via Sedar and Cresco Labs. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Haywood Drops Cresco Labs Price Target To $24.50

Cresco Labs (CSE: CL) reported its first-quarter financial results this past week. The company announced...

Monday, May 31, 2021, 11:40:00 AM

US Cannabis: The Current Landscape

Welcome to the Deep Dive Video Essay Series. Today we are looking at US Cannabis....

Saturday, March 6, 2021, 09:00:00 AM

Cresco Labs to Sell Illinois Properties in Leaseback Arrangement

Cresco Labs (CSE: CL) announced this morning that it would be entering a sale and...

Friday, September 27, 2019, 09:07:51 AM

Cresco Labs: Analysts Raise Targets Following Massachusetts Acquisition

On March 18th, Cresco Labs (CSE: CL) announced the acquisition of Cultivate, a Massachusetts-based vertically...

Tuesday, March 23, 2021, 11:53:00 AM

Cresco Labs Enters US$282.5 Million Purchase Agreement for Tryke Companies

Cresco Labs (CSE: CL) announced this morning that it has entered a purchase agreement to...

Monday, September 16, 2019, 09:08:24 AM