MRMD - One Of Analysts' Favorite Marijuana Stocks Says Farewell To Debt Closes $58.7M Refinancing Deal | Benzinga
MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) announced on Monday that it closed a $58.7 million secured credit facility with a U.S. chartered bank on Nov. 17, 2023.
Refinancing Deal Highlights
- A 10-year, $58.7 million construction to permanent commercial real estate mortgage loan.
- Interest at a lower fixed rate. After the first five years, the rate will be reset for the remaining 5 years.
- Interest-only payments for the first 12 months. After the first 12 months, payments will be based on a 20-year amortization schedule.
- The loan is secured solely by the company’s Maryland and Massachusetts operating assets and real estate holdings.
- The company’s other operating assets and key brands such as Betty’s Eddies and Nature’s Heritage are now unencumbered ...