Curaleaf Holdings Borrows $50 Million At 10.25% Via Secured Credit Facility

Evidently Curaleaf Holdings (CSE: CURA) was not fully satisfied with its recent C$275.6 million financing as announced last week. The company now has also secured $50 million via a three year secured revolving credit facility.

The facility will see the company borrow $50 million via three year secured revolving facility, with the facility having a maturity date of January 10, 2024. The debt will bear interest at a rate of 10.25% per annum, with the funds notably having been fully drawn at closing.

Proceeds from the credit facility are expected to be used for a number of purposes, including potential acquisitions, capital expenditures to support growth, and general corporate purposes. The facility is viewed as a source of “additional financial flexibility,” while providing “a more favourable cost of capital.”

Curaleaf Holdings last traded at $17.37 on the CSE.

Information for this briefing was found via Sedar and Curaleaf Holdings. 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.

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