Acreage Secures $150M In Financing Via Senior Secured Credit Facility With AFC Gamma & Viridescent Realty Trust

Vertically integrated company Acreage Holdings, Inc. (OTCQX: ACRDF) announced Thursday that it has secured a $150 million credit facility with  real estate investment trust AFC Gamma, Inc. (NASDAQ: AFCG) and Viridescent Realty Trust, Inc.  

Pursuant to the terms of the credit facility, the New York-based company can immediately use $100 million, while a further $50 million is available in future periods under a committed accordion option once certain, predetermined milestones are achieved.

Acreage disclosed that it plans to utilize the proceeds to fund expansion initiatives, repay existing debt and provide additional working capital.

Steve Goertz, Acreage's CFO, explained that "this non-dilutive source of capital further enhances our balance sheet and provides us with increased financial flexibility as we continue …

Full story available on Benzinga.com

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