On Oct. 4, Judge Michael Warren of Oakland County Circuit Court in Michigan appointed O’Keefe, a financial and strategic advisory firm, receiver over Natrabis, an inter-related organization of cannabis companies.
AFC Gamma entered into a senior secured revolving credit facility with $60 million of current commitments from two FDIC-insured banks. According to an 8K filed with the SEC, East West Bank is one of the banks and is serving as lead arranger, bookrunner and agent for the facility.
AFC Gamma provided a senior secured credit facility of up to $82.5 million to Bloom Medicinals Holding Company and certain of its affiliates, a privately held multi-state cannabis operator.
AFC Gamma expanded its senior credit facilities with three different borrowers, including Verano Holdings, Vedi Holdings and Natrabis.
Verano Holdings entered into an amendment to its existing credit agreement for additional funding of $120 million with an 18-month maturity. Chicago Atlantic Advisors is the lead administrative agent and collateral agent for the facility, with AFC Gamma also funding $50 million of the $120 million tranche.
AFC Gamma provided a credit facility of $23 million to BeLeaf Medical, a single-state Missouri operator. The credit facility is designed to provide BeLeaf with the capital necessary to expand its three Missouri cultivation facilities.
AFC Gamma, a commercial real estate finance company that provides loans to operators in the cannabis industry, provided a credit facility of $15.5 million to The Evermore Cannabis Company, a vertically integrated Maryland operator.
AFC Gamma provided a credit facility of $22 million to Justice Cannabis, a Chicago-based, multi-state operator with licenses in eight states.
AFC Management affiliate AFC Gamma funded a $22 million credit facility for Organic Remedies, a Pennsylvania-based cultivator and retailer of medical cannabis.