Company: JUSHF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001628280-25-010947
Chunk: 112

Company: Jushi Holdings Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 112
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 statements of cash flows for the years ended December 31, 2024 and 2023 are as follows:

Year Ended December 31,20242023Net cash flows provided by (used in) operating activities $21,569 $(3,318)Net cash flows used in investing activities(7,067)(6,392)Net cash flows (used in) provided by financing activities (24,461)13,869 Net change in cash, cash equivalents and restricted cash$(9,959)$4,159 

Operating activities

Cash provided by operations was $21,569, as compared to cash used in operations of $3,318. The change to cash provided by operating activities in the current year compared to cash used in operating activities in the prior year was primarily due to improved operating results, as well as an improvement in cash flow from working capital.

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Investing activities

Net cash used in investing activities was $7,067 compared to $6,392. The current year includes $4,708 for the payments of property, plant and equipment for use in our operations and $5,207 for payments primarily related to the acquisition of additional licenses in Ohio, which were partially offset by $2,848 in proceeds from sale of non-core assets. The prior year includes $10,743 for the payments of property, plant and equipment for use in our operations partially offset by $4,351 in proceeds from sale of non-core assets. 

Financing activities

Net cash used in financing activities was $24,461 compared to net cash provided by financing activities of $13,869. In July 2024, we refinanced our Senior Secured Credit Facility (the “Acquisition Facility”) from Roxbury, LP, a portfolio company of SunStream Bancorp Inc., with proceeds from the issuance of Term Loans and cash on hand. Refer to Note 10 - Debt of our Annual Financial Statements included in this Annual Report on Form 10-K for more information. 

The current year cash used in financing activities includes the following cash outflows: 

•$60,125 in payments related to the Acquisition Facility debt which was extinguished in July 2024;

•$3,600 in payments to extinguish one of our acquisition related promissory notes;

•$2,750 in payments on promissory notes in the Debt Exchange;

•$2,689 in payments of loan financing costs; 

•$2,091 in net finance lease obligation payments;

•$2,000