Welcome to our dedicated page for Ianthus news (Ticker: ITHUF), a resource for investors and traders seeking the latest updates and insights on Ianthus stock.
iAnthus Capital Holdings, Inc. (ITHUF) is a vertically integrated cannabis company that owns, operates and partners with regulated cannabis operations across the United States. Its news flow combines operational updates from its GrowHealthy retail platform in Florida with regular financial reporting as a public company.
Recent company announcements highlight the expansion of GrowHealthy dispensaries in Florida communities such as Jacksonville, Palm Harbor, Tamarac, Fort Myers and St. Petersburg. These openings emphasize increased patient access to medical cannabis, a focus on whole-plant wellness and premium genetics, and store designs tailored to local communities. News releases describe product menus that include flower, vapes, concentrates and other formats, along with in-store features intended to enhance the patient experience.
Alongside retail expansion, iAnthus regularly reports quarterly and annual financial results. The company issues press releases summarizing revenue, gross profit, net income or loss and other key metrics, and discusses non-GAAP measures such as EBITDA and Adjusted EBITDA with reconciliations to GAAP figures. These releases are often accompanied by SEC filings, including Forms 10-Q, 10-K and 8-K.
Investors and observers following ITHUF news can use this page to review updates on dispensary openings, brand deployment across markets, financial performance and shareholder meeting outcomes. The news stream provides context on how iAnthus is executing its strategy of building premium cannabis brands through a network of cultivation, production and retail operations in the United States.
iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCPK: ITHUF) announced that Justice Penny of the Ontario Superior Court granted relief to Secured Noteholders in a recent application. The ruling extends the Outside Date in the restructuring support agreement until all regulatory approvals for their Recapitalization Transaction are met. iAnthus is reviewing the decision and considering an appeal, having 30 days to do so. Regulatory approvals are still outstanding in Florida, Massachusetts, New York, and Maryland.
iAnthus Capital Holdings, Inc. (OTCPK: ITHUF) provided an update regarding its Secured Noteholders' Application, previously announced on August 27, 2021. The Ontario Superior Court of Justice, led by Justice Penny, heard the Application on September 23, 2021, and has reserved its decision. The Stay ordered on August 24, 2021, remains in effect until 48 hours following the release of Justice Penny's decision. The parties are required to maintain the status quo and cannot terminate the restructuring support agreement or communicate regarding the application with state regulators.
iAnthus Capital Holdings has announced receipt of a Purported Notice from Lenders seeking to extend the Outside Date for a recapitalization transaction past August 31, 2021. iAnthus disputes this, asserting that the Outside Date remains unchanged. The company continues working towards obtaining necessary regulatory approvals for the transaction. Additionally, a Notice of Application from Gotham Green Partners is seeking a declaration on the Purported Notice, with iAnthus intending to dismiss it. Key regulatory approvals are pending in several states, including Florida and Massachusetts.
iAnthus Capital Holdings reported Q2 2021 financial results with revenue of $54.2 million, up 57% year-over-year, and gross profit of $31.3 million, up 66%. The gross margin improved to 57.7%. Despite positive revenue growth, the company faced a net loss of $15.3 million, a decrease from the prior year's loss of $24.8 million. Adjusted EBITDA reached $13.5 million, a significant increase from $0.7 million in Q2 2020. The ongoing recapitalization transaction is progressing, requiring additional regulatory approvals.
iAnthus Capital Holdings (CSE: IAN, OTC: ITHUF) provided an update on its Recapitalization Transaction, confirming that both securityholder and Court approvals have been obtained. The closing, however, is contingent upon regulatory approvals from state authorities in several states, including Florida and Massachusetts. The Outside Date for these approvals has been amended from June 30, 2021, to August 31, 2021. Additionally, the Company announced a postponement of its Annual General Meeting from June 30, 2021, to October 31, 2021.
iAnthus Capital Holdings reported strong Q1 2021 financial results, with revenue reaching $51.8 million, a 70% increase year-over-year. Adjusted Gross Profit surged 111% to $32.6 million, achieving an Adjusted Gross Margin of 63%. The net loss narrowed to $19.5 million from $236.3 million in the prior year, equating to a loss of $0.11 per share. The company aims to recapitalize its debt, subject to regulatory approvals, to improve its financial standing and operations in the U.S. cannabis market.
iAnthus Capital Holdings reported financial results for Q4 and the full year 2020, revealing a 93.5% increase in revenue to $151.7 million. Gross profit surged by 232.2% to $86.7 million. Despite these gains, the company faced a net loss of $309.8 million, or $1.81 per share, attributed to liquidity issues resulting in unpaid interest on debentures and a triggered event of default.
The company is pursuing a recapitalization transaction that could involve issuing up to 6 billion shares, pending regulatory approvals.
iAnthus Capital Holdings has filed an amendment to its Form 10 Registration Statement with the SEC, establishing itself as a fully reporting company. This amendment became effective on February 5, 2021, obligating iAnthus to file regular reports including 10-K, 10-Q, and 8-K, thereby enhancing transparency for investors. The Form 10 details the Company's operations, strategies, and financials. Despite pandemic-related risks that could disrupt operations, iAnthus remains licensed to operate. For more information, visit www.iAnthus.com.
iAnthus Capital Holdings has successfully closed an $11 million bridge financing, primarily intended for the construction and improvement of its cannabis facilities in New Jersey. The financing involves senior secured bridge notes with a 14% annual interest, decreasing to 8% after a recapitalization transaction. The net proceeds will support facilities expected to be subleased to MPX New Jersey. CEO Randy Maslow highlights the importance of this financing for operational expansion in the state.
iAnthus Capital Holdings reported its Q2 2020 financial results, revealing a net loss of $20.9 million or $0.12 per share. Revenue was $34.6 million, a 14% increase from the previous quarter, with a gross margin of 54.8%, up from 49.2% in Q1 2020. However, due to liquidity issues, the company did not make interest payments on its senior secured and unsecured debentures totaling $97.5 million and $60.0 million, respectively, resulting in an event of default. A recapitalization plan was approved by the British Columbia Supreme Court on October 5, 2020.