ACRGF - Acreage Holdings Scores Up to $200 Million in New Funding
Acreage Holdings (OTC: ACRGF) announced Friday that it has secured commitments for up to $200 million in new financing.
The company opened a $100 million credit facility with a "well-capitalized institutional lender" that it did not name. The funds will be made available in three tranches, the first of which is to be a $49 million draw-down expected to occur this month. The annual interest rates are 2.55% for the first year, 1.25% for the second, and a rate to be negotiated for the third. Interest will be payable monthly.
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