Acreage Enters into Amended and Restated Credit Agreement

Acreage Holdings, Inc. has secured approximately $8 million in net proceeds through an amended and restated credit agreement. This capital infusion aims to support the company's growth and expansion efforts.

The new maturity date for the agreement is set for September 2027, providing Acreage with additional financial flexibility. The agreement includes a $65 million advance from a new lender with a 10% original issue discount.

As a result, Acreage has repaid all amounts due under the previous credit agreement. This strategic move is expected to expand Acreage's retail footprint, especially in the emerging non-medical market in Ohio.

The agreement stipulates an annual interest rate of 13.5%, with interest payments to be made in cash or in-kind, depending on the lender. Seaport Global Securities LLC acted as the exclusive financial advisor for the transaction.