Company: JUSHF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023749
Chunk: 49

Company: Jushi Holdings Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 49
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.25%.Financial CovenantsTerm LoansThe Term Loans include a financial covenant that requires the Company to maintain a minimum unrestricted cash balance as of the last day of each calendar month during the term of the Term Loans, with an initial minimum cash balance of $8,000, subject to certain “step-ups” for succeeding periods. As of March 31, 2025, the Company was in compliance with this financial covenant.Mortgage loansThe Company’s three mortgage loan agreements contain certain financial and other covenants with which the Company is required to comply. As of March 31, 2025, the Company was in compliance with all financial covenants contained in each of the mortgage loan agreements.

Annual MaturitiesAs of March 31, 2025, aggregate future scheduled repayments of the Company’s debt were as follows:Remainder of the year202620272028TotalSecond Lien Notes$— $85,334 $— $— $85,334 Acquisition-related promissory notes payable175 6,223 22,114 — 28,512 Mortgage loans506 690 9,389 18,318 28,903 Term Loans2,425 46,075 — — 48,500 Total debt subject to scheduled repayments$3,106 $138,322 $31,503 $18,318 $191,249 The above table excludes the maturities of the Company’s promissory notes payable to Sammartino, as the repayment of these notes, if any, would arise in the context of a non-appealable final judgment by a court. Refer to Note 16 - Commitments and Contingencies for more information. Specifically, the promissory notes that were payable to Sammartino are as follows: $16,500 in 2024 and $5,000 in 2026. However, these balances are classified as long-term debt since the Company does not expect to repay these amounts within the next 12 months.

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Table of ContentsJUSHI HOLDINGS INC. Notes to the Unaudited Condensed Consolidated Financial Statements(Amounts Expressed in Thousands of U.S. dollars, Except Share and Per Share Amounts)

Interest ExpenseInterest expense, net is comprised of the following:Three Months Ended March 31,20252024Interest expenseInterest and accretion - Second Lien Notes$3,103