Company: JUSHF
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048797
Chunk: 32

Company: Jushi Holdings Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 32
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assas Mortgage, pursuant to which: (i) the outstanding principal balance was increased by $4,000, (the “Additional Loan Proceeds”); (ii) the loan’s maturity date was extended to September 2030; and (iii) the interest rate floor was lowered from 8.25% to 7.50% (the interest rate remains the average 30-day secured overnight financing rate plus 3.55%). The Manassas Mortgage, as modified, remains principally secured by the Property. In addition, as part of the Modification Agreement, the Company was required to deposit $761 of the Additional Loan Proceeds into a restricted account, designated for use in fulfilling certain conditions associated with ongoing construction at the Property.The interest rate as of  September 30, 2025 was 7.936%. 

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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)

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 September 30, 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 September 30, 2025, the Company was in compliance with all financial covenants contained in each of the mortgage loan agreements.

Annual MaturitiesAs of September 30, 2025, aggregate future scheduled repayments of the Company’s debt were as follows:Remainder of the year2026202720282029ThereafterTotalSecond Lien Notes$— $85,866 $— $— $— $— $85,866 Term Loans1,213 46,075 — — — — 47,288 Acquisition-related promissory notes payable175 6,223 22,114 — — — 28,512 Mortgage loans138 544 9,286 389 427 21,828 32,612 Total debt subject to scheduled repayments$1,526