4Front gets $10 million credit facility via ALT Debt II

By Wendy Van Sickle

Columbus, Ohio, Oct. 16 – 4Front Ventures Corp. entered into a $10 million senior secured credit facility agreement with ALT Debt II, LP, an affiliate of Altmore Capital, according to a news release.

The funds will be disbursed in two tranches and are committed to building out the company’s retail operations in Illinois in connection with the imminent launch of its new state-of-the-art cultivation and processing facility in Matteson, Ill.

The outstanding principal of the credit facility will bear simple interest at a rate per annum equal to the greater of the WSJ Prime Rate plus 700 basis points and 15.5%, payable monthly.

Provided the company extends the maturity of certain other subordinated debt, the maturity date of the credit facility will be Sept. 30, 2026.

Phoenix-based 4Front is a vertically integrated, multi-state cannabis operator and retailer.

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