Verano Secures US $75,000,000 Revolving Credit Facility
Verano Holdings Corp. (OTCQX: VRNOF) has secured a US $75 million revolving credit facility through Chicago Atlantic Admin, LLC, marking what is believed to be the largest such facility among US cannabis operators. The company has immediately drawn $50 million to retire existing higher-interest debt from its senior secured credit facility.
The new facility, maturing in September 2028, features a floating annual interest rate of SOFR plus 6% (4% SOFR floor), no required amortization payments, and flexible repayment terms. The revolver is secured by selected real estate and allows for proportionate release of collateral, providing Verano with enhanced financial flexibility and lower cost debt options.
Verano Holdings Corp. (OTCQX: VRNOF) ha ottenuto una linea di credito revolving di 75 milioni di dollari USA tramite Chicago Atlantic Admin, LLC, probabilmente la più grande di questo tipo tra gli operatori di cannabis negli Stati Uniti. L'azienda ha immediatamente attinto 50 milioni di dollari per estinguere debiti esistenti ad alto tasso di interesse provenienti dalla sua linea di credito senior garantita.
La nuova linea, che scade nel settembre 2028, prevede un tasso di interesse annuo variabile SOFR più 6% (pavimento SOFR 4%), nessun pagamento di ammortamento obbligatorio e condizioni di rimborso flessibili. Il revolver è garantito da immobili selezionati e consente una liberazione proporzionale delle garanzie, offrendo a Verano una maggiore flessibilità finanziaria e opzioni di debito a costo inferiore.
Verano Holdings Corp. (OTCQX: VRNOF) ha asegurado una línea de crédito revolvente de 75 millones de dólares a través de Chicago Atlantic Admin, LLC, lo que podría ser la mayor de este tipo entre los operadores de cannabis en Estados Unidos. La empresa ha utilizado de inmediato 50 millones de dólares para cancelar deudas existentes de mayor costo de interés procedentes de su línea de crédito senior garantizada.
La nueva facilidad, que vence en septiembre de 2028, presenta una tasa de interés anual flotante SOFR más 6% (piso SOFR de 4%), sin pagos de amortización obligatorios y con condiciones de reembolso flexibles. El revolver está asegurado por bienes raíces seleccionados y permite la liberación proporcional de garantías, proporcionando a Verano una mayor flexibilidad financiera y opciones de deuda a menor costo.
Verano Holdings Corp. (OTCQX: VRNOF)가 시카고 애틀랜틱 어드민 LLC를 통해 7500만 달러의 신용한도 revolving를 확보했으며, 이는 미국의 대마초 운영업체 중 최대 규모로 여겨진다. 회사는 즉시 5000만 달러를 차입해 기존의 고금리 부채를 상환했다.
새로운 시설은 2028년 9월에 만기되며, 연이자율은 SOFR에 6%를 더한 변동금리(SOFR 하한 4%), 상환 의무는 없고 유연한 상환 조건을 가진다. 이 revolver는 선택된 부동산으로 담보되며 담보를 비례적으로 해제할 수 있어 Verano에 재무적 유연성과 더 낮은 비용의 부채 옵션을 제공한다.
Verano Holdings Corp. (OTCQX: VRNOF) a obtenu une ligne de crédit renouvelable de 75 millions de dollars US via Chicago Atlantic Admin, LLC, ce qui serait la plus importante de ce type parmi les opérateurs de cannabis américains. L’entreprise a immédiatement puisé 50 millions de dollars pour rembourser une dette existante à coût élevé provenant de sa ligne de crédit senior garantie.
La nouvelle facilité, dont l’échéance est fixée à septembre 2028, prévoit un taux d’intérêt annuel variable SOFR plus 6% (plancher SOFR à 4%), sans paiements d’amortissement obligatoires et des conditions de remboursement flexibles. Le revolver est garanti par des biens immobiliers sélectionnés et permet la libération proportionnelle des garanties, offrant à Verano une meilleure flexibilité financière et des options d’endettement à coût réduit.
Verano Holdings Corp. (OTCQX: VRNOF) hat eine revolvierende Kreditfazilität über 75 Millionen US-Dollar durch Chicago Atlantic Admin, LLC gesichert, was als größte dieser Art unter US-Cannabis-Betreibern gilt. Das Unternehmen hat sofort 50 Millionen US-Dollar aufgenommen, um bestehende teurere Schulden aus seiner Senior Secured Credit Facility abzubauen.
Die neue Fazilität läuft bis September 2028 und sieht einen variablen Jahreszinssatz von SOFR plus 6% vor (SOFR-Floor 4%), keine vorgeschriebenen Tilgungszahlungen und flexible Rückzahlungsbedingungen. Der Revolver ist durch ausgewählte Immobilien besichert und erlaubt eine proportionale Freigabe von Sicherheiten, was Verano mehr finanzielle Flexibilität und günstigere Schuldenoptionen bietet.
حصلت Verano Holdings Corp. (الرمز: VRNOF) على تسهيل ائتماني دوّار بقيمة 75 مليون دولار أمريكي عبر Chicago Atlantic Admin, LLC، وهو ما يُعتقد أنه الأكبر من نوعه بين مشغلي القِنّب في الولايات المتحدة. وقد سحبت الشركة فوراً 50 مليون دولار لسداد ديون حالية ذات فائدة أعلى من تسهيلها الائتماني المضمون من الدرجة الأولى.
أما نطاق التسهيل الجديد فسينتهي في سبتمبر 2028، وهو يتضمن سعر فائدة سنوي عائم SOFR زائد 6% (أرضية SOFR عند 4%)، بدون دفعات سداد قسرية وبشروط سداد مرنة. يتم ضمان revolver بواسطة عقارات محددة ويسمح بالإفراج النسبّي عن الضمانات، مما يمنح Verano مرونة مالية أعلى وخيارات دين بتكلفة منخفضة.
Verano Holdings Corp.（OTCQX：VRNOF）通过 Chicago Atlantic Admin, LLC 获得了一笔7500万美元的循环信贷便利，这被认为是美国大麻运营商中最大的此类便利。公司已立即提取5000万美元，用以偿还高级担保信贷额度中现有的高息债务。
新信贷便利于2028年9月到期，年利率为 SOFR 加 6%（SOFR 下限为 4%），无强制摊销，还款条款灵活。该循环信贷由选定的房地产提供担保，并允许按比例释放担保，从而为 Verano 提供更强的财务灵活性及更低成本的债务选项。
- Secured largest-ever cannabis industry revolving credit facility of $75 million
- Immediate reduction in interest costs by refinancing $50 million of higher-rate debt
- Extended debt maturity to September 2028 with no required amortization payments
- Flexible collateral release options when maintaining 60% loan-to-value ratio
- Additional $25 million available for strategic initiatives
- New debt remains secured by company real estate assets
- Floating interest rate structure exposes company to potential rate increase risks
- 4% SOFR floor requirement may limit benefits of potential rate decreases
Company draws US
CHICAGO, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the closing of a credit agreement agented by Chicago Atlantic Admin, LLC, with participation from a regional bank, to provide the Company a revolving credit facility (the “Revolver”) of US
The Revolver, which is secured by selected real estate, provides Verano a range of benefits including lower cost debt, payoff and redraw flexibility, and optionality to have certain real estate released as collateral under the Revolver.
“Closing the
Details of the Revolver are as follows:
- A floating annual interest rate on amounts drawn equal to SOFR1 plus
6% (subject to a4% SOFR floor). - No required amortization payments over the course of the Revolver.
- Matures on September 29, 2028, allowing for repayment at any time in US
$2,500,000 increments, subject to an interest-only make-whole if repaid before the six-month anniversary of funding. - The proportionate release of certain real estate upon request and so long as the outstanding principal balance under the Revolver does not exceed
60% of the appraised value of the remaining pledged real estate.
“Chicago Atlantic is proud to support Verano with this flexible financing solution which reflects Verano’s strength across its markets,” noted Peter Sack, Managing Partner of Chicago Atlantic. “Revolving credit facilities are common financial solutions outside of the cannabis industry, and Verano’s revolver is what we believe to be the largest such facility among US operators in the history of the industry, granting the Company the dynamic ability to deploy and reduce higher-cost leverage as needed.”
For more information on Verano, and to access product images, logos and video available for download, please visit the Company’s Investor website and Media Kit (credit: “Courtesy of Verano”).
About Verano
Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF), one of the U.S. cannabis industry’s leading companies based on historical revenue, geographic scope and brand performance, is a vertically integrated, multi-state operator embracing a mission of saying Yes to plant progress and the bold exploration of cannabis. Verano provides a superior cannabis shopping experience in medical and adult use markets under the Zen Leaf™ and MÜV™ dispensary banners, including Cabbage Club™, an innovative annual membership program offering exclusive benefits for cannabis consumers. Verano produces a comprehensive suite of high-quality, regulated cannabis products sold under its diverse portfolio of trusted consumer brands including Verano™, (the) Essence™, MÜV™, Savvy™, BITS™, Encore™, and Avexia™. Verano’s active operations span 13 U.S. states, comprised of 15 production facilities with over 1.1 million square feet of cultivation capacity. Learn more at Verano.com.
About Chicago Atlantic
Chicago Atlantic is a private markets alternative investment manager focused on industries and companies where demand for capital exceeds traditional supply. The firm’s investment strategies include opportunistic private credit and equity with focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth and technology finance. Chicago Atlantic has closed over
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Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans, strategies, or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “future”, “scheduled”, “estimates”, “forecasts”, “projects,” “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein, including, without limitation, the risk factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2024 and any subsequent quarterly reports on Form 10-Q, in each case, filed with the U.S. Securities and Exchange Commission at www.sec.gov. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information or forward-looking statements that are contained or referenced herein, except as may be required in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice regarding forward-looking information and statements.
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1 SOFR refers to the Secured Overnight Financing Rate
FAQ
What is the size and purpose of Verano's new credit facility?
What are the key terms of VRNOF's new revolving credit facility?
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