Company: JUSHF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023749
Chunk: 26

Company: Jushi Holdings Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 26
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 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 $2,748 Interest and accretion - Term Loans3,190 — Interest and accretion - Finance lease liabilities2,475 2,668 Interest and accretion - Promissory notes814 1,374 Interest and accretion - Acquisition Facility— 2,152 Interest and accretion - Mortgage loans and other financing activities602 706 Capitalized interest(62)— Total interest expense10,122 9,648 Interest income(122)(104)Total interest expense, net$10,000 $9,544 

 9.   DERIVATIVE LIABILITIESThe following table summarizes the change in the Company’s derivative liabilities for the three months ended March 31, 2025.Total Derivative Liabilities (1)Balance as of January 1, 2025$3,128 Derivative warrants issued (2)1,769 Fair value changes(637)Reclassification to equity (2)(1,377)Balance as of March 31, 2025$2,883 (1)Refer to Note 10 - Equity for the change in number of warrants during the three months ended March 31, 2025.(2)In February 2025, the Company issued 8,010,626 warrants in connection with Second Lien Notes issuances, which were reclassified to equity upon the finalization of the exercise price in March 2025. Refer to Note 8 - Debt for more information. The Company’s derivative liabilities are primarily comprised of derivative warrants (“Derivative Warrants”). These are warrants to purchase SV