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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
