Jushi Cuts $53M Debt With New $48M Loan, Now Holds Less Than $1M In Short-Term Debt
Jushi Cuts $53M Debt With New $48M Loan, Now Holds Less Than $1M In Short-Term Debt
Vertically integrated cannabis company Jushi Holdings Inc. (CSE:USH) (OTCQX:JUSHF) refinanced its existing $53 million loan due December 31, 2024, by issuing a new $48.5 million senior secured term loan and using around $7.4 million in cash. The new loan carries an interest rate of 12.25% per year, payable quarterly.
綜合性大麻公司Jushi Holdings Inc. (CSE:USH) (OTCQX:JUSHF) 通過發行新的4850萬美元的優先擔保期限貸款和使用約740萬美元現金，再融資了其原有到2024年12月31日到期的5300萬美元貸款。新貸款年利率爲12.25％，每季度付息。
"The refinancing strengthens Jushi's balance sheet by continuing the company's commitment towards deleveraging and secures an attractive cost of capital amidst the current credit environment," stated James Cacioppo, Jushi CEO, chairman and founder. "We were able to attract new institutional lenders to our term loan which is a testament to our operational strength and suite of assets in key high-growth states which we believe will soon realize their full potential."
Jushi首席執行官、董事長和創始人James Cacioppo表示：“再融資增強了Jushi的資產負債表，延續了公司減負承諾，並在當前信貸環境下獲得了有吸引力的資本成本。我們能夠吸引新的機構借款人參與我們的期限貸款，這證明了我們在關鍵高增長州具備的運營實力和資產組合的全部潛力。”
The term loan amortizes quarterly at the rate of 2.5%, starting one year after issuance and matures within 30 months, or 91 days prior to the maturity of the company's existing second lien notes due Dec. 2026. Investors in the new loan received five-year warrants at 40%, allowing them to buy shares at $1 each. The warrants were offered and sold in a private placement only to accredited investors and qualified institutional buyers.
期限貸款按2.5％的季度分期還款，自發行後一年後開始，並在30個月內還款，或在公司現有的2026年12月到期的二級留置債券到期前91天到期。新貸款的投資者以40％的價格獲得了5年期權，可以以每股1美元的價格購買股票。這些認股權只向合格的認定投資者和合格機構買家進行私募。
Read Also: EXCLUSIVE: Learn How This Cannabis Banking Innovator's 'Lead with Lending' Strategy Drives Financial Success
閱讀更多：獨家：了解這家大麻銀行創新者的“領先貸款”策略如何推動財務成功
Term Loan Highlights
期限貸款要點
"Following this refinancing and including the early extinguishment of one of our acquisition-related promissory notes in early July, our short-term debt subject to scheduled repayments is less than $1 million as of July 31, 2024," Cacioppo continued. "We remain focused to deliver value to our shareholders and are excited with the regulatory changes that we anticipate on both the state and federal levels. We would also like to thank SunStream Bancorp Inc. for their support in Jushi since its financing of the Existing 1st Lien Credit Facility in October 2021."
Cacioppo 繼續說：“在這次再融資之後，包括七月初我們早期償還了一個收購相關的票據後，我們受計劃還款約束的短期債務截至2024年7月31日的金額不到100萬美元。我們仍然專注於爲股東提供價值，並對州和聯邦層面即將出台的監管變化感到興奮。我們還想感謝SunStream Bancorp Inc.自2021年10月爲我們現有的第一留置信貸設施提供資金支持以來一直以來對Jushi的支持。”
As of July 31, following the refinancing, Jushi has about $19 million in cash and has made significant debt payments, leaving less than $1 million in short-term debt.
截至再融資結束時，Jushi持有約1900萬美元的現金，並已進行了重大的債務還款，剩餘不到100萬美元的短期債務。
An entity affiliated with Cacioppo took part in the loan with a principal amount of $9 million and received 3.6 million warrants. Denis Arsenault, founder and significant equity holder of the company, also participated in the refinancing with $7 million and received 2.8 million warrants.
與Cacioppo有關的實體參與貸款，貸款本金爲900萬美元，並獲得了360萬認股權。公司創始人和重要股權持有人Denis Arsenault也參與了再融資，共投資了700萬美元，並獲得了280萬認股權。
Adjustments were made to Jushi's previous debt agreements to align with the new loan terms, with consents from note holders.
調整了Jushi以前的債務協議，以與新的貸款條款相一致，經過了註記持有人的同意。
Jushi obtained consent from noteholders of the company's previous debt agreements in order to make necessary aliments with the new loan terms.
Jushi獲得了公司以前債務協議的註記持有人的同意，以便與新的貸款條款進行必要的改動。
Second Quarter 2024 Financial Results
2024年第二季度財務結果
The Florida-based company also announced that it will report its financial results for the second quarter ended June 30, 2024, after the market closes on Wednesday, August 7, 2024.
總部位於佛羅里達的公司還宣佈將於2024年8月7日星期三收盤後公佈截至2024年6月30日的第二季度業績。
Management will host a conference call and audio webcast on Wednesday, August 7, 2024, at 4:30 p.m. ET to discuss the company's financial results.
管理團隊將於2024年8月7日星期三下午4:30（東部時間）舉行電話會議和音頻網絡研討會，討論公司的財務結果。
Price Action
股價變動
Jushi shares traded 1.79% higher at 57 cents per share at the time of writing Thursday morning.
截至週四早上撰寫本文時，Jushi股票以每股57美分的價格上漲了1.79％。
- Cannabis Companies About To Release Earnings Reports, Get Your News Here: Glass House, Schwazze And More
- 大麻公司即將發佈業績，請在此獲取資訊：Glass House，Schwazze和更多
Photo: Courtesy of SD_FlowerPower via Shutterstock
照片：由SD_FlowerPower通過Shutterstock提供
譯文內容由第三人軟體翻譯。