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Green Thumb Industries Received Repayment from Cansortium Inc.

Nov 27, 2024

Contract Type

partnership

New YorkFinancial ServicesFinanceFintechLendingBanking

Description

Green Thumb Industries Inc. announced the receipt of principal and cash interest payments related to a prior loan to Cansortium Inc. Green Thumb received approximately $23 million of principal plus 13% accrued interest, adding to its Q3 ending cash balance of $174 million. This repayment marks a successful business collaboration and demonstrates Green Thumb's opportunistic style to allocating capital.

Company Information

Company

Valley National Bancorp

Location

70 Speedwell Ave

New York, New York, United States

About

Valley National Bancorp is a New Jersey-based financial institution with a market capitalization of $4.95 billion. The bank has shown financial resilience, with a revenue of $1.58 billion in the last twelve months as of Q3 2024.