Loan & DebtAug 13, 2026, 07:06 AM
Vireo Growth Secures $85M Revolving Credit Facility, Expandable to $105M
AI Summary
Vireo Growth Inc. announced the entry into a new senior secured asset-based revolving credit facility providing up to $85 million, expandable to $105 million, maturing in August 2031. This facility enhances financial flexibility and will be used for refinancing, working capital, capital expenditures, and acquisitions. Concurrently, the company completed the previously announced acquisition of PharmaCann Inc.'s Colorado retail cannabis assets for approximately $49.0 million, adding 17 dispensaries and expanding its Colorado footprint to 56 locations.
Key Highlights
- Secured a senior secured asset-based revolving credit facility with initial commitments up to $85 million.
- Facility can be increased by an additional $20 million, for a potential total of up to $105 million.
- The credit facility matures on August 7, 2031, a five-year term.
- Interest rates are Term SOFR plus 1.75%-2.00% or base rate plus 0.75%-1.00%, with a 0.25% annual unused fee.
- Proceeds will be used to refinance existing debt, fund working capital, capital expenditures, and finance permitted acquisitions.
- Completed the acquisition of certain Colorado retail cannabis assets from PharmaCann Inc. for approximately $49.0 million.
- The acquisition adds 17 dispensaries, expanding Vireo's Colorado retail footprint to 56 operational locations.
Price Impact
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