Cresco Labs Closes Financing With Lenders to Extend Maturity of Senior Secured Term Loan and Increase Facility to $200 Million
Amount Raised
$200 Million
Round Type
Debt Financing
ChicagoAgriculture and FarmingCommunity And LifestyleHealth CareFood And BeverageAlternative MedicineDescription
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the closing of the agreement with lenders to extend the maturity of its senior secured term loan (the “Senior Loan”) and exercise of the mutual option to increase the loan size to US$200 million. All lenders have agreed to extend the Senior Loan maturity to January 23th, 2023 at a reduced interest rate of 12% per annum. Additionally, under the terms of the new agreement, Cresco Labs is provided with greater prepayment optionality.
Quick answer
Cresco Labs raised $200 Million in a Debt Financing round, dated December 14, 2020. Cresco Labs is based in Chicago, Illinois, United States.
- How much did Cresco Labs raise?
- Cresco Labs raised $200 Million in a Debt Financing round on December 14, 2020.
- What does Cresco Labs do?
- Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry.
- Where is Cresco Labs based and how big is it?
- Cresco Labs is based in Chicago, Illinois, United States.
- Who are the decision-makers at Cresco Labs?
- Fundz holds 1 contact at Cresco Labs. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Agriculture and Farming and Community And Lifestyle around the same time
Companies in the same sectors as Cresco Labs that raised within 45 days of this round, from Fundz verified event records.
- Imperfect Foods raised $95M (Series D) on January 21, 2021.
- PetDx, Inc. raised $208K (Seed) on January 5, 2021.
- Mekonos, Inc. raised $4.5M (Seed) on December 31, 2020.
- WM Technology, Inc. raised $325M on December 18, 2020.
- Mekonos, Inc. raised $4M (Seed) on November 23, 2020.
- Archer-Daniels-Midland Company raised an undisclosed amount on November 4, 2020.
Who to call at Cresco Labs, and when
A new round usually means Cresco Labs is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Cresco Labs raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Cresco Labs, from your own LinkedIn network
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Related People
Cresco Labs raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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