Feuerstein Kulick Advises Lenders on $275M Senior Secured Term Loan to Curaleaf Holdings, Inc.
NEW YORK, Dec. 20, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. ("Curaleaf"), a leading vertically integrated cannabis operator in the United States, today announced that it has received commitments from a syndicate of lenders for a US$275 million Senior Secured Term Loan Facility (the "Facility") with a maturity 48 months from closing. Curaleaf received commitments for the Facility from existing lenders as well as other investors. The Facility and lender commitments are subject to completion of customary closing conditions, with expected drawdown on or about January 10, 2020.
This transaction constitutes a broadly syndicated institutional deal led by sophisticated and long-term investors that have confidence in the cannabis industry and the Curaleaf team. Curaleaf is currently positioned in highly populated, limited license states, and operates in 12 states with 51 dispensaries, 14 cultivation sites and 13 processing sites. The lenders to Curaleaf are represented by Samantha Gleit at Feuerstein Kulick LLP, a boutique law firm that represents clients in all aspects of the legal cannabis space, including investors, funds, leading technology and ancillary companies, brands, license holders, and operators.
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