FFNTF - Cannabis Operator 4Front Ventures Issues Restricted Stock Units Following Credit Facility Announcement | Benzinga
Multi-state cannabis operator and retailer 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) announced the issuance of restricted stock units (RSUs) in connection with its recent $10-million senior secured credit facility agreement.
The Phoenix, Arizona-based company will issue 15.9 million RSUs to ALT Debt II, LP, an affiliate of Altmore Capital.
Each RSU will convert into one Class A subordinate voting share of the company upon the occurrence of specific conditions outlined in the RSU agreement.
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The issue price for the RSUs is about 25 cents per RSU. If, during a Distribution Event, the number of Shares underlying the RSUs falls below 2.12% ...