Acreage unit draws $21 million under $100 million credit facility

By Devika Patel

Knoxville, Tenn., March 17 – Tuesday brought one new deal to the private placement market.

New York-based Acreage Holdings, Inc., an operator of cannabis licenses and assets in the United States, said a subsidiary has borrowed $21 million in the initial drawing under a $100 million credit facility with an institutional lender.

Acreage raises $21 million

Acreage Holdings announced that one of its subsidiaries has drawn down $21 million under a $100 million credit facility with an institutional lender.

Interest under the credit facility advances is payable monthly for the first year at a rate of 3.55% per annum on the first advance, 1.55% per annum on the third advance and at a rate to be negotiated for the fourth advance and for the second year on all advances.

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