FLOOF - Flower One secures $39M term loan

Flower One Holdings (FLOOF) has entered into a seven-year term debt loan agreement for $39M with Subversive Real Estate Acquisition REIT LP at an interest rate of 10.5%.As part of the Loan Agreement, the company granted Subversive REIT a two-year option to pursue a sale-leaseback transaction to purchase Flower One's 455K square-foot cannabis cultivation and production facility in North Las Vegas, Nevada for up to $80M, and subsequently lease it back to the company. "Subversive REIT is positioned to be a leader in the U.S. cannabis real estate market," said Ken Villazor, President and Chief Executive Officer of Flower One. "We are excited to have this opportunity to build a strategic partnership with such a deeply connected and highly-knowledgeable cannabis real estate partner that is poised to benefit Flower One both in the near- and long-term as we continue to enhance our operations in Nevada." Proceeds of the loan will be

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Flower One secures $39M term loan