Shryne Group gets up to $170 million secured term loan

By Wendy Van Sickle

Columbus, Ohio, June 2 – Shryne Group Inc. obtained a senior secured term loan of up to $170 million, according to a news release from Silver Spike Investment Corp., which co-led the debt.

“We are excited to support Shryne’s growth plans and strategic vision of bringing high quality and innovative products to cannabis consumers across multiple states,” Frank Kotsen, Silver Spike’s head of credit, said in the release.

“This substantial financial commitment from Silver Spike and other syndicate members, among the largest ever debt facilities provided to a private cannabis company, exemplifies our firm’s ability to provide customized financing solutions to support leaders in the cannabis sector, such as Shryne.”

Based in Los Angeles, Shryne cultivates, manufactures, distributes and retails branded cannabis products at scale.

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