Cannabis MSO Columbia Care raises $74.5 million in private placement
Multistate marijuana operator Columbia Care has closed a private payment of convertible notes to raise $74.5 million.
The senior secured notes carry a 6% interest rate, and mature on June 29, 2025, unless they are redeemed, repurchased or converted earlier than that.
Each $1,000 worth of notes can be converted to 154 common shares of Columbia Care, representing a premium of about 25% over the shares’ closing price on June 17.