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Curaleaf completes $50 million three-year revolving credit facility
By Taylor Fox
New York, Jan. 11 – Curaleaf Holdings, Inc. completed a new $50 million three-year secured revolving credit facility, according to a news release.
The new revolver has a maturity date of Jan. 10, 2024.
Borrowings under the facility bear interest on any outstanding principal of 10¼%.
The proceeds from borrowings under the credit agreement are expected to be used to fund capital expenditures to support future growth initiatives, for potential acquisitions and for general corporate purposes.
The facility was fully drawn at closing.
Seaport Global Securities LLC acted as the placement agent for the credit facility.
Curaleaf is a vertically integrated cannabis operator based in Wakefield, Mass.
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