The risky financial deals that shook up one of America's most promising weed companies
iAnthus had few traditional options to bankroll its expansion because marijuana remains illegal under U.S. federal law. To go big, iAnthus’ then-CEO, Hadley Ford, reached out to someone he considered a friend: Jason Adler, founder of Gotham Green Partners, which had emerged as one of the biggest lenders in the cannabis industry.
Gotham Green ultimately agreed to loan iAnthus up to $140 million, but the lender was not obligated to provide the full amount.