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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.
Special purpose acquisition company Glass House Group for $567 million.
The deal implies a $1.024-billion equity valuation and an approximate enterprise valuation of $691 million.
Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF) purchased European operator EMMAC Life Sciences. The U.S.-based company agreed to pay $50 million in cash and 17.5 million in stock worth roughly $260 million.
In addition, Curaleaf teamed up with an institutional investor to secure $130 million in financing for further expansion of Curaleaf International.
Meanwhile,
Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) announced it will buy
The Supreme Cannabis Company, Inc. (TSX:FIRE) (OTCQX:SPRWF) for about CA$435 million ($345.7 million).
JMP Group Appoints Investment Expert Alfredo Barreto To Oversee Its Investment Banking Division
JMP Group LLC (NYSE:JMP) said Tuesday that Alfredo Barreto, Jr. has joined the company to serve as a managing director in its investment banking group.
Barreto agreed to advise corporate clients within the cannabis industry.
He is an experienced investment banker with knowledge in consumer and specialty retail.
“His transactional background and industry relationships will make him a key advisor to entrepreneurs and executives seeking differentiated strategic advice and top-tier execution capabilities as they build, finance, and monetize cannabis and cannabis-adjacent businesses in a rapidly changing marketplace,” Mark Lehmann, JMP Group’s president, said.
Green Thumb Industries Inc (OTCQX: GTBIF) (CSE:GTII) to build a marijuana cultivation and manufacturing facility.
Green Thumb plans to buy the remaining eight lots, covering around 40 acres, at the Warwick Valley Office and Technology Corporate Park to construct a state-of-the-art cultivation and manufacturing facility.
With the new manufacturing operation, the multistate operator plans to hire around 125 full-time employees with full benefits.
The incentives approved by the agency include “sales and use tax exemption, mortgage recording tax exemption, a 15-year property tax abatement and the issuance of taxable revenue bonds,” per the report.
“We are thrilled to help bring Green Thumb to Orange County, along with 125 good-paying permanent jobs, hundreds of construction jobs and $50 million in capital investment in the first phase alone,” according to the county agency.