Fundz

Verano

Chicago, Illinois, United States · Agriculture and Farming, Cannabis, Information Technology · 750 employees

Verano is a Chicago-based multistate cannabis operator that specializes in the cultivation, production, and distribution of cannabis products. It is publicly listed in Canada and operates in multiple U.S. states where cannabis is federally prohibited.

Funding history

  • Series senior secured term loan — $195.0M — Mar 2026
  • Series seed — $2.0M — Nov 2024

Recent signals

  • Mar 12, 2026: Raised $195.0M in Series senior secured term loan
  • Mar 12, 2026: SEC 8-K (8.01): On March 12, 2026, Verano Holdings Corp. announced the closing of a $195,000,000 senior secured term loan under a new credit agreement, with Needham & Company acting as the agent. This financial arrangement is intended to strengthen the company's capital structure and provide necessary liquidity for ongoing business operations and strategic initiatives. The funds from this loan are expected to support various projects and enhance the company's growth trajectory in the rapidly evolving market. This transaction marks a significant step in Verano's financial strategy, ensuring they are well-positioned for future investments and development.
  • Jan 12, 2026: SEC 8-K (1.01): On January 12, 2026, Verano Holdings Corp. entered into a First Amendment to its existing Credit Agreement originally established on September 30, 2025. This amendment increased the lending commitment of the Revolver from $75,000,000 to $100,000,000 and extended the maturity date for all outstanding amounts from September 29, 2028, to February 28, 2029. The transaction involves the Company, certain subsidiaries, lenders, and Chicago Atlantic Admin, LLC as the administrative agent. This update is strategic as it enhances liquidity for Verano Holdings, allowing for greater financial flexibility going forward.
  • Oct 27, 2025: SEC 8-K (5.01): On October 27, 2025, Verano Holdings Corp. held a special meeting of shareholders where a special resolution was passed to approve a plan of arrangement under Section 288 of the Business Corporations Act (British Columbia). This arrangement involves the continuance of the Company under the laws of British Columbia. As of the record date on September 25, 2025, there were 361,815,879 Class A subordinate voting shares and 0 Class B subordinate voting shares entitled to vote. This change in corporate governance indicates a significant strategic shift for the Company.
  • Nov 20, 2024: Raised $2.0M in Series seed
  • Aug 22, 2024: Acquired Verano completes acquisition of Arizona and Virginia Subsidiaries of The Cannabist Company, Becomes Exclusive Cannabis Operator for HSA 5 in Eastern Virginia and Strengthens Arizona Footprint

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