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Verano Holdings ( (TSE:VRNO) ) has provided an announcement.
Verano Holdings has amended its revolving credit facility, increasing the commitment from $75 million to $100 million and extending the maturity date from September 29, 2028 to February 28, 2029, without pledging additional collateral beyond certain owned real estate. The upsized facility, under which $50 million has already been drawn, carries a floating interest rate of SOFR plus 6% (with a 4% SOFR floor), requires no amortization payments, and offers flexible repayment and the potential release of pledged real estate, enhancing Verano’s access to lower-cost debt and financial flexibility as it continues to optimize its balance sheet and pursue ongoing debt refinancing efforts.
The most recent analyst rating on (TSE:VRNO) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Verano Holdings stock, see the TSE:VRNO Stock Forecast page.
Spark’s Take on TSE:VRNO Stock
According to Spark, TipRanks’ AI Analyst, TSE:VRNO is a Neutral.
The overall stock score reflects significant challenges in financial performance and technical analysis, with declining revenues, profitability issues, and stagnant price trends. However, positive corporate events provide some optimism for future growth and market expansion. The valuation remains unattractive due to negative earnings and lack of dividends.
To see Spark’s full report on TSE:VRNO stock, click here.
More about Verano Holdings
Verano Holdings Corp. is a vertically integrated, multi-state cannabis operator and one of the leading U.S. cannabis companies by historical revenue, geographic footprint and brand performance. The company operates medical and adult-use dispensaries under the Zen Leaf and MÜV banners and produces a broad portfolio of regulated cannabis products sold under brands including Verano, Essence, MÜV, Savvy, BITS, Encore and Avexia. Verano’s active operations span 13 U.S. states, supported by 15 production facilities with more than 1.1 million square feet of cultivation capacity.
Technical Sentiment Signal: Sell
Current Market Cap: C$2.17B
See more insights into VRNO stock on TipRanks’ Stock Analysis page.