Company: JUSHF
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001628280-25-019342
Chunk: 24

Company: Jushi Holdings Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 24
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 the Company. Each warrants is exercisable for one subordinate voting share and are exercisable until July 31, 2029, at an exercise price of $1.00 per subordinate voting share (the “Warrants”). An entity affiliated with James Cacioppo participated as a Lender in the transaction by providing the Company a Term Loan in the principal amount of $9,000,000, and received 3,600,000 Warrants. Denis Arsenault, a Founder and significant equity holder of the Company, participated as a Lender in the transaction by providing the Company a Term Loan in the principal amount of $7,000,000, and received 2,800,000 Warrants.

Amendment to Second Lien Indenture

In connection with the Credit Agreement, on July 31, 2024, we entered into a Second Amendment (the "Second Amendment") to our existing Trust Indenture, by and between the Company and Odyssey Trust Company (the "Indenture") governing the issuance of our 12% second lien notes due December 7, 2026 (the "12% Second Lien Notes"). Jim Cacioppo and certain affiliated entities and Denis Arsenault are holders of the 12% Second Lien Notes. However, because an entity affiliated with James Cacioppo and Denis Arsenault participated in the Term Loan, the amendments to the Indenture were approved by both the holders of more than 50% of the aggregate principal amount of the outstanding 12% Second Lien Notes and by a majority of the aggregate principal amount of the outstanding 12% Second Lien Notes excluding Mr. Cacioppo and affiliates entities and Mr. Arsenault.

Option Repricing

On August 12, 2024, our Board approved a limited stock option cancellation and regrant program, pursuant to which certain members of our then-current senior management team, including Jim Cacioppo, Louis Jonathan Barack and Tobi Lebowitz, and the Company's non-employee directors, were permitted to elect to cancel each option held by the eligible participant with an exercise price per subordinate voting share greater than or equal to $1.91, and to be granted a replacement option to purchase an identical number of subordinate voting shares on the first date such grant was eligible to be made after the expiration of a 30-day period measured from the cancellation date and otherwise in compliance with US and Canadian law and applicable stock exchange

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