iAnthus Extends New Jersey Bridge Note Financing – iAnthus Capital Hldgs (OTC:ITHUF)

iAnthus Capital Holdings, Inc. ITHUF IAN , which owns, operates and partners with regulated cannabis operations across the United States, announced that the company along with its wholly-owned subsidiary, iAnthus New Jersey, LLC, has entered into an amendment to the senior secured bridge notes, due February 2, 2023, with certain related-party lenders (including funds managed by affiliates of Gotham Green Partners, LLC, Oasis Management and Senvest Management LLC).

Pursuant to the amendment, the maturity date of the bridge notes has been extended from February 2, 2023, to February 2, 2024, and the interest on the principal amount outstanding has increased to a rate of 12% per annum. In addition, an amendment fee equal to 10% of the principal amount of the bridge notes on the date hereof will become payable at maturity.

As at February 2, 2023, the aggregate principal amount outstanding on the bridge notes is approximately $14 million.

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Photo: Benzinga edit with photo by Kindel Media on Pexels

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