Schwazze Restructures Its $32M Debt Obligations, Improving Financials To Grow Across Colorado And New Mexico
Schwazze Restructures Its $32M Debt Obligations, Improving Financials To Grow Across Colorado And New Mexico
Medicine Man Technologies, Inc., operating as Schwazze (OTC:SHWZ) (Cboe CA: SHWZ) is restructuring its February 2025 debt obligations. The Colorado-based cannabis company announced Thursday that it finalized an agreement with two its lenders to restructure its $15.0 million Altmore, LLC loan agreement and its $17.0 million Reynold Greenleaf & Associates LLC promissory note,
醫藥人技術公司(Schwazze)(OTC:SHWZ)(Cboe CA:SHWZ)重組其2025年2月的債務義務。這家總部位於科羅拉多州的大麻公司週四宣佈，已與兩個借款人達成一項協議，重組了其1500萬美元的Altmore,LLC貸款協議和1700萬美元的Reynold Greenleaf和Associates LLC本票債券。
The debt restructuring comes on the heels of the company's common stock transition to the OTC Expert Market, due to its delayed filing. The delay was a result of an SEC order regarding the company's previous auditor, BF Borgers CPA PC, who was dismissed as Schwazze's auditor prior to the SEC's order.
該債務重組是該公司普通股過渡到場外交易專家市場兌現的結果。延遲是由於美國證券交易委員會於此前核數師BF Borgers CPA PC被解聘爲Schwazze的核數師而發出的命令。
Schwazze officials said the debt restructuring improves its financial position by extending the maturities of both debt instruments to the end of 2025 and materially reducing amortization payments for the Altmore loan agreement.
Schwazze官員表示，債務重組通過將兩種債務工具的到期日延長至2025年底，並實質性減少Altmore貸款協議的分期償還款項，改善了其財務狀況。
"This restructuring marks a pivotal accomplishment for Schwazze," stated Forrest Hoffmaster, interim CEO of Schwazze. "Extending the maturities for our near-term debt obligations provides us with the financial flexibility needed to execute our strategic growth initiatives in both Colorado and New Mexico. We appreciate our lenders for their support and confidence in our strategic vision. With the close of these agreements, Schwazze will have no debt maturities until November of 2025."
Schwazze的代總裁Forrest Hoffmaster表示:"這次重組標誌着Schwazze的一個關鍵成就。將近期的債務到期日延長，爲我們在科羅拉多州和新墨西哥州執行戰略增長計劃提供了所需的財務靈活性。我們感謝我們的貸款人對我們戰略的支持和信心。隨着這些協議的完成，Schwazze將在2025年11月之前沒有債務到期日。"
Amended Debts Highlights
修改後的債務亮點
Altmore Loan Agreement
Altmore貸款協議
- 9-month maturity date extension from February 2025 to November 2025.
- Reduction of quarterly principal payment from $750,000 to $300,000, which became effective in the Q2 2024 payment. Additionally, the Company will pay a quarterly administrative fee of $75,000.
- No change in interest rate of 15%.
- 將到期日的9個月延長，從2025年2月至2025年11月。
- 將每季度的本金支付從75萬美元降低到30萬美元，自2024年第二季度款項生效。此外，公司將支付每季度7.5萬美元的行政費用。
- 利率不變爲15%。
R. Greenleaf Promissory Note
R. Greenleaf本票債券
- 9-month maturity date extension, subject to certain conditions contained in the amendment, from February 2025 to November 2025 for 90% of the principal amount. The remaining 10% of the principal amount will be paid in February 2025.
- No change in interest rate of 5%.
- 將到期日的9個月延長，但必須滿足修正案中包含的某些條件，從2025年2月至2025年11月佔本金的90%。剩餘10%的本金金額將在2025年2月支付。
- 利率不變爲5%。
Price Action
股價變動
Schwazze shares closed Thursday market session 4% lower at 34 cents per share.
Schwazze股票週四市場收盤價爲34美分，下跌4%。
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To keep on top of what is happening with cannabis stocks and everything across the industry, join us at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices go up by following this link.
爲了及時了解大麻股票及整個行業發展趨勢，請於10月8日至9日加入我們的第19屆Benzinga大麻資本大會，並通過以下鏈接確認購票。
Photo: Courtesy of NikolayFrolochkin and ganjaspliffstoreuk by Pixabay
照片：由NikolayFrolochkin和ganjaspliffstoreuk通過Pixabay提供