Green Thumb Industries Announces an Additional $50 Million Senior Debt Financing

Rhea-AI Summary

Green Thumb Industries (OTCQX: GTBIF) increased its five-year syndicated credit facility by $50 million, raising the total facility to $189 million. The facility is led by Valley National Bank, bears interest at SOFR + 500 basis points, and matures on September 11, 2029.

The company said it will use proceeds for general corporate purposes, potential strategic investments, and working capital. The transaction did not issue any Green Thumb equity to participating banks.

Positive

• Adds $50 million immediate liquidity
• Facility led by Valley National Bank implies lender confidence
• No equity issued, avoiding shareholder dilution

Negative

• Interest cost at SOFR + 500 bps increases financing expense
• Additional debt raises leverage and interest coverage risk
• Maturity in September 2029 concentrates repayment obligation

Five-year syndicated credit facility at an industry-leading rate of SOFR+500

CHICAGO and VANCOUVER, British Columbia, Feb. 20, 2026 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today announced the Company increased its existing syndicated credit facility led by Valley National Bank by $50 million, bringing the total facility to $189 million. The Company intends to use the cash proceeds for general corporate purposes, potential strategic investments, and other working capital requirements.

“Adding $50 million to our balance sheet at a low rate should be good for our shareholders long term,” said Founder, Chairman and Chief Executive Officer Ben Kovler. “We are fortunate to have Valley National Bank as a financing partner who has confidence in our business model and capital stewardship.”

The credit facility has a maturity date of September 11, 2029 and will continue to bear interest from the date of issue at Secured Overnight Financing Rate (SOFR) + 500 basis points. This transaction did not involve the issuance of any Green Thumb equity to any of the participating banks in the syndication.

About Green Thumb Industries

Green Thumb Industries Inc. (“Green Thumb”) is a leading national cannabis consumer packaged goods company and retailer headquartered in Chicago, Illinois. The company manufactures and distributes a portfolio of licensed, branded cannabis products, including RYTHM, Dogwalkers, incredibles, Beboe, &Shine, Doctor Solomon’s and Good Green. Green Thumb also owns and operates RISE Dispensaries, a rapidly growing national retail chain. Green Thumb serves millions of patients and customers each year with a mission to promote well-being through the power of cannabis while giving back to the communities it serves. Established in 2014, Green Thumb has 20 manufacturing facilities and over 100 retail stores across 14 U.S. markets, employing approximately 5,000 people. More information is available at www.gtigrows.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains statements that we believe are, or may be considered to be, “forward-looking statements.” All statements other than statements of historical fact included in this document regarding the prospects of our industry or our prospects, plans, financial position or business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking words such as “may,” “will,” “expect,” “intend,” “estimate,” “foresee,” “opportunity,” “project,” “potential,” “risk,” “anticipate,” “believe,” “plan,” “forecast,” “continue,” “suggests” or “could” or the negative of these terms or variations of them or similar terms or expressions of similar meaning. Furthermore, forward-looking statements may be included in various filings that we make with the Securities and Exchange Commission (the “SEC”), or oral statements made by or with the approval of one of our authorized executive officers. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These known and unknown risks include, without limitation: the potential that we will engage in strategic investments or acquisitions, and whether such transactions, if they occur, can be successful; cannabis remains illegal under U.S. federal law, and enforcement of cannabis laws could change; state regulation of cannabis is uncertain; the Company may not be able to obtain or maintain necessary permits and authorizations; the Company may face limitations on ownership of cannabis licenses; the Company may become subject to U.S. Food and Drug Administration or the U.S. Bureau of Alcohol, Tobacco, Firearms, and Explosives regulation; as a cannabis business, the Company is subject to applicable anti-money laundering laws and regulations and have restricted access to banking and other financial services; the Company may face difficulties acquiring additional financing; the Company operates in a highly regulated sector and may not always succeed in complying fully with applicable regulatory requirements in all jurisdictions where it conducts business; the Company faces intense competition; the Company faces competition from the illicit market as well as hemp products that are actually or purportedly compliant with the Agricultural Improvement Act of 2018 (the Farm Bill); the Company is dependent upon the popularity and consumer acceptance of its brand portfolio; the Company has limited trademark protections; as a cannabis business, the Company is subject to unfavorable tax treatment and may incur significant tax liability; as a cannabis business, the Company may be subject to civil asset forfeiture; the Company is subject to proceeds of crime statutes; the Company faces exposure to fraudulent or illegal activity; the Company faces risks due to industry immaturity or limited comparable, competitive or established industry best practices; the Company faces risks related to its products; the Company’s business is subject to the risks inherent in agricultural operations; the Company faces an inherent risk of product liability and similar claims; the Company’s products may be subject to product recalls; the Company may face unfavorable publicity or consumer perception; the Company may be adversely impacted by rising or volatile energy costs and availability; the Company faces risks related to its information technology systems and potential cyber-attacks and security breaches; the Company relies on third-party software providers for numerous capabilities we depend upon to operate, and a disruption of one or more of these systems could adversely affect our business; the Company relies on the expertise of its management team and other employees experienced in the cannabis industry, and the loss of key personnel could negatively affect its business; the Company’s voting control is concentrated; the Company’s capital structure and voting control may cause unpredictability; and sales of substantial amounts Subordinate Voting Shares by the Company’s shareholders in the public market may have an adverse effect on the market price of the Company’s Subordinate Voting Shares. Further information on these and other potential factors that could affect the Company’s business and financial condition and the results of operations are included in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and elsewhere in the Company’s filings with the SEC, which are available on the SEC’s website or at https://investors.gtigrows.com. Readers are cautioned not to place undue reliance on any forward-looking statements contained in this document, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements. You are advised, however, to consult any additional disclosures we make in our reports to the SEC. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this document.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Investor Contact:
Andy Grossman
EVP, Capital Markets & Investor Relations
InvestorRelations@gtigrows.com 
310-622-8257

Media Contact:
GTI Communications
media@gtigrows.com

Source: Green Thumb Industries Inc.

FAQ

What did Green Thumb (GTBIF) announce on February 20, 2026 about its credit facility?

Green Thumb announced an additional $50 million to its syndicated credit facility, bringing it to $189 million. According to the company, the facility is led by Valley National Bank and bears interest at SOFR + 500 basis points with a September 11, 2029 maturity.

How will the new $50 million facility addition affect Green Thumb (GTBIF) liquidity?

The addition immediately increases available cash and working capital by $50 million. According to the company, proceeds are for general corporate purposes, potential strategic investments, and other working capital needs to support operations and growth flexibility.

What are the key terms of Green Thumb's (GTBIF) expanded loan facility?

Key terms: total facility $189 million, interest at SOFR + 500 bps, maturity September 11, 2029. According to the company, the five-year syndicated facility is led by Valley National Bank and involves no equity issuance.

Does the $50 million financing dilute Green Thumb (GTBIF) shareholders?

No, the financing did not involve issuing Green Thumb equity to participating banks, so it does not dilute existing shareholders. According to the company, the transaction was structured as additional senior debt rather than an equity raise.

What are potential investor risks from Green Thumb's (GTBIF) added debt?

Investors may face higher interest expense due to the SOFR + 500 bps rate and increased leverage. According to the company, the debt aims to fund operations and strategic investments but raises repayment and coverage considerations through 2029.