AFC Gamma, Inc. (NASDAQ:AFCG) has amended its previously announced $150 million credit facility with Acreage Holdings, Inc. (OTCQX:ACRHF) (OTCQX:ACRDF) (CSE:ACRG) (CSE:ACRG)
Under the terms of the amended credit facility, an additional $25 million is now available for immediate draw by Acreage, with a further $25 million available in future periods under a committed accordion option upon achieving certain predetermined milestones. The terms of these additional draws replace the prior $50 million accordion option. The amended credit facility now includes a variable interest rate equal to U.S. prime plus 5.75 % per annum, payable monthly in arrears, with a prime floor of 5.50%. Acreage intends to use the proceeds to fund expansion initiatives and provide additional working capital.
