Curaleaf Holdings has upsized its senior secured term loan facility from a syndicate of lenders totaling $300 million.
The proceeds will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced acquisitions, fund capital expenditures and for general corporate purposes. The sole placement agent for the facility is Seaport Global Securities.
“We are pleased with the upsizing and closing of the deal at what believe to be attractive terms,” said Joseph Lusardi, CEO of Curaleaf. “Most importantly we strengthened our balance sheet without diluting our existing shareholders. With the completion of this transaction, we have ample liquidity to execute on our strategy and are well-positioned to take advantage of the significant market opportunities that exist in this space.”
Curaleaf Holdings is a vertically integrated multi-state cannabis operator in the U.S.
