Advanced Flower Capital (AFCG) has committed to a $14M senior secured credit facility to various subsidiaries of Standard Wellness Holdings. $10.5M of the senior secured credit facility was funded at close. Standard Wellness intends to use the proceeds from the loan to acquire a dispensary in Missouri, relocate a dispensary in Utah, and refinance and consolidate various debt facilities. AFC will hold the entire credit facility, which is secured by a first lien on all of Standard Wellness’s Utah operations and its dispensaries in St. Louis, MO and Cincinnati, OH, and a second lien on its Ohio cultivation facility. The collateral assets include owned real estate in Utah and Ohio and the value of those subsidiary’s cannabis licenses. AFC Agent served as agent for this transaction.
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