Jushi Holdings Inc (OTCMKTS:JUSHF) Stock Jumps After Debt Financing

Investors are almost always on the lookout for companies in the cannabis industry and one of the companies which could be worth looking into is Jushi Holdings Inc (OTCMKTS:JUSHF). It is a vertically integrated cannabis operator that has presence in multiple states.

Trading Data

On Thursday, JUSHF stock rose 6.12% to $0.5306 with more than 162.09K shares, compared to volume of 250.97K shares. The stock moved within a range of $0.4770 – 0.5534 after opening trade at $0.4770.

Jushi Holdings Inc. Announces Closing of $20 Million Non-Dilutive Debt Financing

Last week on April 6 the company came into sharp focus after it announced that it had managed to close a secured commercial loan with FVCbank worth as much as $20 million in gross proceeds. The company announced at the time that the money was going to be deployed towards working capital needs and other corporate needs.

However, in this regard it ought to be noted by investors that the company managed to raise fresh capital without having to resort to dilution of its shares and that is perhaps an important thing to keep in mind. The Chief Executive Officer, Founder and chairman of the company Jim Cacioppo stated that the financing was going to help the company in strengthening its financial position so that it could execute its plans for 2023 far more effectively.

The loan will have an interest rate that would be based on the 30-day average secured overnight financing rate with an additional 3.55% added on. The floor interest rate would not go lower than 8.25%.