Green Thumb Industries places $105 million of three-year 12% secured notes with warrants

By Devika Patel

Knoxville, Tenn., May 23 – Private placements saw a small burst of activity on Thursday, with a new non-brokered deal announced by Vancouver, B.C.-based Green Thumb Industries Inc., a cannabis consumer packaged goods company and retailer.

Green Thumb settled a $105 million private placement of three-year 12% senior secured notes. The company may borrow an additional $45 million over the next six months.

The investors also received 1,822,771 five-year warrants, each exercisable at C$19.39.

Proceeds will be used for general working capital purposes, various growth initiatives and to retire debt.

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