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Sweet Leaf Madison Capital announced the closing of a new $100 million debt facility. A New York-based global institutional special situations asset manager will be providing $100 million of financing. Both parties will have an option to evaluate the progress and increase the debt facility to $200 million.
“This infusion of capital is a strong show of confidence in cannabis debt financing, as well as in Sweet Leaf Madison’s approach to working in this highly regulated and fragmented industry,” stated Bryan Gordon, chairman and CEO of SLMC. “The opportunity to help businesses from ‘seed-to-sale’ achieve their potential is what drives everyone at SLMC, and we look forward to working with more companies to fund their growth and the growth of the industry.”
Since 2016, Sweet Leaf Madison and its predecessor have been providing tailored lending solutions to help hundreds of cannabis businesses fund growth opportunities. This recent funding will enable SLMC to further narrow the gap between cannabis businesses and capital needs. Rather than investing in one business or one market, Sweet Leaf Madison spreads its asset-based debt financing across a wide range of cannabis businesses in all medical and adult-use states. This allows SLMC to diversify its investments and to provide non-dilutive financing to cultivators, processors, retail and ancillary cannabis businesses.
Bryant Park Capital LLC, a FINRA-registered investment bank that provides mergers and acquisitions, debt, equity, and corporate advisory services to its clients in the middle‐market, served as SLMC’s exclusive financial advisor and was integral in this transaction.
Benzinga’s Cannabis Capital Conference Is Back
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
Photo by Giorgio Trovato on Unsplash
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Image and article originally from www.benzinga.com. Read the original article here.