FLUENT, a vertically-integrated, multi-state cannabis company, entered into an amendment to its existing senior secured credit agreement, originally dated as of Nov. 26, 2024, by and among FLUENT, its Canadian and U.S. subsidiaries, the lenders party thereto and Chicago Atlantic Financial Services as successor administrative agent to Chicago Atlantic Admin.
Among other things, the amendment permitted FLUENT to draw an additional $6 million on the date of the amendment in the form of term loans, which term loans bear a paid-in-kind (PIK) interest rate of 13.00% per annum and is due to mature on Dec. 31, 2026.
FLUENT intends to use the net proceeds from the term loans for working capital and general corporate purposes.
