iAnthus closes $11.0mm bridge note financing to build-out NJ facilities

iAnthus has closed an $11.0mm bridge financing funded by certain lenders affiliated with the counterparties to the previously announced restructuring support agreement dated 10 Jul’20, being the holders of all of the 13.0% senior secured convertible debentures issued by iAnthus Capital Management, LLC and the holders of 91.0% of the principal amount of 8.0% convertible unsecured debentures issued by the Company. The proceeds of the Financing, net of fees, costs and expenses, will be used primarily for the construction and improvements of certain New Jersey facilities leased and/or owned by iAnthus NJ.
Source: Company filings