Canadian Cannabis Retailer High Tide Secures $10.9M In Debt Financing
Portfolio Pulse from Nina Zdinjak
High Tide Inc. (NASDAQ:HITI) has secured $10.1 million in debt financing through binding subscription agreements with institutional credit providers. The financing will be used to repay outstanding convertible debentures and support the company's expansion and working capital needs. The financing is structured in two tranches, with the first tranche of CA$10 million closing by June 30, 2024, and the second tranche of CA$5 million in November 2024.
June 13, 2024 | 12:18 pm
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High Tide Inc. has secured $10.1 million in debt financing to repay outstanding convertible debentures and support its expansion plans. The financing is structured in two tranches, with the first tranche closing by June 30, 2024.
The secured financing will help High Tide repay its outstanding convertible debentures and support its expansion plans, which is likely to positively impact the stock price in the short term. The structured tranches also demonstrate prudent financial management.
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