TILT Holdings (TLLTF) has retired $7.5M of its secured promissory notes in the fourth quarter and entered into amendments to the remaining senior secured promissory notes held by certain senior noteholders totaling $2.1M to extend the maturity dates of such notes from December 31, 2022 to February 28, 2023. With the payments, the Company has successfully retired approximately $33.7M of the $35.8M principal of senior secured notes that were originally scheduled to mature in November 2022. The Company has also signed a fifth amendment to its previously announced definitive agreement with Innovative Industrial Properties, Inc. (IIPR) to sell and leaseback its White Haven, Pennsylvania facility. With all other matters for the property already satisfied, the Amendment allows TILT and IIPR to extend the end of the investigational period of the transaction contemplated to a date that is on or before February 28, 2023, to coincide with the new debt facility.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on IIPR:
- Catch These 3 Analysts’ Favorite Stocks Before 2022 Ends
- IIPR Stock: The Best Way to Invest in Cannabis
- Seeking Large Dividends? Check Out These 9 Stocks for 2023
- CURLF, GTBIF, or IIPR: Which “Strong Buy” Cannabis Stock has Higher Upside Potential?
- Innovative Industrial Properties management to meet virtually with Piper Sandler