Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF), the owner of Rise dispensaries, has raised $217 million to retire its existing $105-million senior secured debt due May 2023.
The Chicago-based company said Friday that it has finalized a senior non-brokered private placement financing via the issuance of senior secured notes.
The notes, which will mature on April 30, 2024, carry an interest of 7% on a yearly basis and are payable quarterly.
In addition, the financing allows GTI to lend an additional $33 million over the next 12 months.
Buyers of the notes obtained a total of 1,459,043 warrants, each allowing the purchase of one subordinate voting share of GTI at $32.68 per share in 60 months following the issuance.