Vireo Growth Extends Credit Facility With Chicago Atlantic: 'It's Not Been An Easy Path For Us' Says CEO
Portfolio Pulse from Nina Zdinjak
Vireo Growth Inc. has extended its credit facility with Chicago Atlantic, which has also converted all its convertible notes into equity shares. The extension moves the loan due date to January 29, 2027, and Vireo will issue 12.5 million shares to the lenders. This move is expected to save Vireo approximately $2.3 million in interest expenses. Vireo's shares rose 10.7% following the announcement.

August 02, 2024 | 1:36 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Vireo Growth Inc. extended its credit facility with Chicago Atlantic and converted all convertible notes into equity shares, saving $2.3 million in interest expenses. Shares rose 10.7%.
The extension of the credit facility and conversion of notes into equity shares improve Vireo's financial stability and reduce interest expenses, positively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100