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AYRWF

AYR Wellness Inc. has secured a $40 million refinancing and upsizing of its existing mortgage for its Gainesville cultivation facility from Needham Bank. The loan will be used to pay down the company’s existing Gainesville mortgage of $25.3 million and invest further in the facility and the company’s Florida business. The new loan carries an interest rate of 5-year FHLB rate + 4%, which currently implies a rate of 8.26%.

Portfolio Pulse from Vuk Zdinjak

July 07, 2023 | 12:37 pm

LEEEF

LEEF Brands, Inc. has entered into a strategic partnership with Farming First Holdings, LLC. Under the agreement, Farming First will cultivate 27 acres of cannabis for LEEF, ensuring a steady supply of biomass material. LEEF also secured a right of first refusal on an additional 27 acres for the 2024 season. The company raised $600,000 through a note payable arrangement and $100,000 through the issuance of 4.7 million common shares.

Portfolio Pulse from Vuk Zdinjak

July 07, 2023 | 12:02 pm

FXI

China is considering increasing local bond sales to help pay off its risky hidden debt, according to Bloomberg. This move could potentially impact the iShares China Large-Cap ETF (FXI), which tracks large Chinese companies.

Portfolio Pulse from Charles Gross

July 07, 2023 | 11:34 am

MNK

Mallinckrodt has announced that the Trust has extended the due date of the opioid deferred cash payment from July 7, 2023 to July 14, 2023. The company is still analyzing its situation and engaging with stakeholders, with no assurance of the outcome, including the possibility of filing for bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:51 pm

ADP

Automatic Data Processing Inc. (NASDAQ:ADP) has seen its shares increase by 2.99% over the past three months. The company's financial statement as of May 1, 2023, shows a long-term debt of $2.99 billion and no current debt. After adjusting for $1.83 billion in cash-equivalents, the net debt stands at $1.16 billion. The company's total assets amount to $59.88 billion, resulting in a debt-ratio of 0.05.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 8:45 pm

FSLR

JPM

First Solar Inc (FSLR) announced the establishment of a five-year revolving credit and guarantee facility worth $1 billion, with $250 million available for letters of credit. J.P. Morgan Chase Bank served as the Lead Arranger and Administrative Agent for the facility. The agreement supports First Solar's growth and liquidity objectives.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 8:21 pm

ESEA

Euroseas Ltd. (NASDAQ:ESEA) has taken delivery of its M/V Terataki, a 2,800 teu feeder containership newbuilding from Hyundai Mipo Dockyard Co. The vessel, equipped with a Tier III engine and other sustainability features, was financed with a combination of own funds and a sustainability-linked loan from National Bank of Greece S.A. The vessel has commenced a 36 to 40 months charter with Asyad Lines. The company expects the charter to contribute over $42 million of EBITDA to the company.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:08 pm

FSLR

First Solar, Inc. (NASDAQ:FSLR) has secured a five-year revolving credit and guarantee facility for $1 billion, with J.P. Morgan Chase Bank acting as Lead Arranger. Other banks participating include Bank of America, Citibank, Credit Agricole CIB, and PNC Bank, among others. The company plans to use the facility to support its growth strategy, which includes adding approximately 8 GWDC of new capacity between 2023 and 2026.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 8:06 pm

MGRC

McGrath RentCorp has acquired the assets of Inland Leasing and Storage, a Colorado-based container rental company. The acquisition, funded by McGrath's revolving credit facility, adds approximately 600 assets to McGrath's portable storage operations in Colorado.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 8:02 pm

SHOP

Shopify Inc. (NYSE:SHOP) shares are trading lower due to concerns over further Federal Reserve rate hikes. The wider tech sector is experiencing a downturn, which could negatively impact growth stocks. Despite this, Shopify's stock has seen a 75% increase since the start of the year, with a major boost coming from a surprise profit in May.

Portfolio Pulse from Ryan Gustafson

July 06, 2023 | 7:58 pm