Company: JUSHF
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0001171843-25-000886
Chunk: 3

Company: Jushi Holdings Inc.
Filing Date: 2025-02-18
Form: 8-K
Item: Item 8.01
Chunk 3
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Item 8.01. Other Events.

Sale of Second Lien Notes
and Warrants

On February 18, 2025, Jushi Holdings Inc. (the “ Company”) announced it had entered into
subscription agreements (the “ Subscription Agreements”) with certain investors (the “ Investors”), pursuant
to which the Company agreed to issue and sell approximately US$5.1 million principal amount of 12% Second Lien Notes due 2026 (the
“ Notes”) and detached warrants (the “ Warrants”) to purchase the Company’s subordinate voting shares,
no par value per share, in a private placement (the “ Offering”). The Company expects to receive approximately US $4.6
million of net proceeds from the sale of the Notes and Warrants.

The Notes are being issued in accordance with the Company’s existing Trust Indenture, dated as of
December 7, 2022, as amended, by and between the Company and Odyssey Trust Company, as agent. The Notes will be issued with a ten percent
(10%) original issue discount.

The Warrants will entitle the subscribers to purchase up to an aggregate of approximately 8.6 million warrants of the Company's subordinate
voting shares. Each Warrant is exercisable for one subordinate voting share of the Company. The Warrants
are exercisable for five (5) years from the issuance date at an exercise price per subordinate voting share equal to a fifty percent (50%)
premium to the volume weighted average price of a subordinate voting share on the Company’s principal trading market over the trailing
twenty (20) trading day period ending on the second (2nd) business day following the Company’s public filing of its Annual Report
on Form 10-K for the fiscal year ended December 31, 2024, provided that in no event shall the exercise price be lower than US$0.45 or
higher than US$0.50. The Warrants are subject to adjustment under certain circumstances as further described in the Warrants.

An entity affiliated with James Cacioppo, the Company’s Chief Executive Officer, Chairman and Founder,
has subscribed for approximately US$3.7 million principal amount of United States dollar denominated Notes, for a purchase price of approximately
US$3.3 million and will receive up to approximately 6.2 million Warrants. Denis Arsenault, a Founder and significant equity holder of
the Company, has subscribed for C$2.0 million principal amount of