NEW
YORK, Aug. 1, 2024 /PRNewswire/ -- Feuerstein
Kulick represented Jushi Holdings Inc. ("Jushi" or the "Company")
(CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state
cannabis operator in the refinancing of its approximately
US$53 million senior secured credit
facility due December 31, 2024
through the issuance of a new US$48.5
million senior secured Term Loan (the "Term Loan") and use
of approximately US$7.4 million from
cash on hand, which includes fees associated with the
refinancing.
The Term Loan was issued at a 2.0% original issuance discount
and bears an interest rate of 12.25% per annum, payable quarterly.
The Term Loan amortizes at the rate of 2.5% per quarter beginning
12 months after the closing date and matures on the earlier of 30
months from the closing date or 91 days prior to the maturity of
the Company's existing Second Lien Notes due December 7, 2026. The Term Loan is guaranteed by
certain current and future direct and indirect subsidiaries of the
Company and secured by first priority liens on certain assets of
the Company and certain of the Company's direct and indirect
subsidiaries.
Investors providing the Term Loan to the Company received
five-year Warrants at 40% coverage and with an exercise price per
share equal to US$1.00 (the
"Warrants"). The Warrants were offered and sold in a private
placement only to U.S. Accredited Investors and/or Qualified
Institutional Buyers in reliance on the registration exemption
provided by Rule 506(b) of Regulation D under the U.S. Securities
Act and/or Section 4(a)(2) of the U.S. Securities Act of 1933, as
amended and similar registration exemptions under applicable state
securities or "blue sky" laws.
Samantha Gleit and Daniel Rich of Feuerstein
Kulick LLP served as debt counsel to Jushi on the transaction.
Feuerstein Kulick LLP is a boutique law firm that represents
clients in all aspects of the legal cannabis space, including
investors, funds, leading technology and ancillary companies,
brands, license holders, and operators.
Contact: Samantha@dfmklaw.com
View original
content:https://www.prnewswire.com/news-releases/feuerstein-kulick-represents-jushi-holdings-inc-in-refinancing-its-existing-1st-lien-credit-facility-with-us48-5-million-term-loan-302212603.html
SOURCE Feuerstein Kulick LLP