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Financings Neutral

Jushi Holdings Inc. Refinances Former 1st Lien Credit Facility and Former 2nd Lien Credit Facility with US$160 Million Non-Dilutive Debt Financing

By The Northwire Desk — AI Analysis Mar 27, 2026 · 12:03 JUSH · 0.6 Jushi Holdings Inc.
JUSH · Price

Executive Summary

  • Jushi Holdings completed a $160 million senior secured term loan at a 4.0% issuance discount, providing liquidity and reducing debt.
  • The loan carries a 12.50% annual interest rate, matures in three years, is non‑amortizing and non‑dilutive to shareholders.
  • Post‑refinancing cash balance stands at approximately $35 million, strengthening the company’s balance sheet ahead of its Q4 2025 results release on March 31, 2026.

Key Details

  • Term Loan Amount: $160 million senior secured term loan issued by FocusGrowth Asset Management (FG Agency Lending LLC as administrative agent).
  • Pricing & Terms: 4.0% original issuance discount; interest rate 12.50% per annum payable monthly; three‑year maturity; no amortization; first‑priority liens on Company assets and subsidiaries; guaranteed by certain direct and indirect subsidiaries.
  • Use of Proceeds: Repayment of the former senior secured credit facility (1st lien) and former second lien credit facility; remaining cash to bolster liquidity.
  • Related Party Participation:
  • James Cacioppo (CEO, Chairman, Founder) – approx. US$28 million via Serpentine Capital Management III, LLC.
  • Denis Arsenault (Founder, >10% shareholder) – approx. US$21 million.
  • Related‑Party Transaction: Treated as a related‑party transaction under MI 61‑101; approved by an independent directors’ special committee and the board (Cacioppo abstained).
  • Regulatory Exemptions: Relied on exemptions from formal valuation and minority shareholder approval per sections 5.5(b) and 5.7(1)(f) of MI 61‑101; no material change report filed due to timing constraints.
  • Cash Position After Refinancing: Approximately $35 million in cash, cash equivalents, and restricted cash as of March 27, 2026.
  • Upcoming Event: Management will host a conference call/webcast on Tuesday, March 31, 2026 at 4:00 p.m. ET to discuss Q4 2025 and full‑year results.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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