Green Thumb Industries Announces USD $105 Million Senior Secured Debt Financing

大麻公司Green Thumb Industries宣布1.05亿美元优先担保债务融资

2019-05-28 07:24:00 CFN Media Group


Green Thumb Industries Inc. , a leading national cannabis consumer packaged goods company and owner of the retail chain Rise™, today announced the Company has closed on a USD $105 million Senior Secured non-brokered private placement financing through the issuance of senior secured notes .  The Company intends to use the proceeds for general working capital purposes, various growth initiatives, as well as to retire the Company’s existing debt. “Strategic capital allocation is fundamental to the business and this financing strengthens our balance sheet at an attractive cost of capital for our business and shareholders,” said GTI Founder and CEO Ben Kovler. “We are well-positioned to capitalize on the attractive market opportunities in front of us. The proceeds will fuel our aggressive growth plans for faster route-to-market in key markets like New Jersey, as well as pursue expansion opportunities that broaden the reach of our brand portfolio.” The Notes have a maturity date of May 22nd, 2022 and will bear interest from the date of issue at 12% per annum, payable quarterly, with an option, at the discretion of the Company, to extend an additional 12 months. The financing permits the Company to borrow an additional $45 million over the next six months. The purchasers of the Notes also received 1,822,771 warrants (the “Warrants”).  Each Warrant is exercisable to purchase one subordinate voting share of GTI at an exercise price of CDN$19.39 per share, for a period of 60 months from the date of issue. Certain insiders participated in the financing, purchasing an aggregate of less than $1 million of the issued notes. Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions(“MI 61-101”), such insider participation is a “related party transaction.” The Company is exempt from certain requirements of MI 61-101 in connection with the insider participation in reliance on section 5.5(b) of MI 61-101, as no securities of the Company are listed or quoted for trading on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ stock market or any other stock exchange outside of Canada and the United States, and section 5.7(1)(a) of MI 61-101, as the aggregate value of the insider participation does not exceed 25% of the market capitalization of the company.
国家大麻消费包装产品领先公司、零售连锁店 Rise ™的所有者 Green Thumb Industries Inc .今天宣布,公司已通过发行优先担保票据的方式,结束了1.05亿美元的高级无担保私募融资。本公司拟将所得款项用于一般营运资金用途、各项增长计划以及偿还本公司现有债务。 GTI 创始人兼首席执行官本•科夫勒( Ben Kovler )表示:“战略资本配置对业务至关重要,这种融资以吸引我们的业务和股东的资金成本加强了我们的资产负债表。”“我们处于有利地位,能够利用摆在我们面前的有吸引力的市场机遇。这些收益将推动我们雄心勃勃的增长计划,在新泽西等关键市场实现更快的上市途径,并寻求扩大我们品牌组合范围的扩张机会。” 票据的到期日为2022年5月22日,自发行之日起按年利率12%计息,每季度支付一次,并由本公司酌情决定延长12个月。融资允许公司在未来六个月内再借款4500万美元。 票据的购买者还收到1,822,771份认股权证(“认股权证”)。每份认股权证可于发行日期起计60个月内以行使价每股 CDN $19.39购买 GTI 的一股次级投票权股份。 某些内部人士参与融资,购买总额少于100万美元的已发行票据。根据第61-101号多边文书-保护特殊交易中的少数证券持有人(“ MI 61-101”),此种内幕人士参与是一种“关联方交易”。根据 MI 61-101第5.5( b )条,本公司获豁免遵守 MI 61-101有关内幕人士参与的若干规定,因为本公司并无证券于多伦多证券交易所、纽约证券交易所、美国证券交易所上市或报价买卖。纳斯达克股票市场或加拿大和美国以外的任何其他证券交易所,以及 MI 61-101第5.7(1)( a )节,由于内幕人士参与的总价值不超过公司市值的25%。