Columbia Care

Canaccord Genuity acts as Sole Lead Agent and Lead Bookrunner to Columbia Care, Inc. on its US$185 Million Debt Financing

Canaccord Genuity is pleased to announce that on February 3, 2022, its client Columbia Care, Inc. (“Columbia Care”), successfully closed its issuance of senior secured first-lien notes. In aggregate, the private placement consisted of US$185 million of 9.50% senior secured first-lien notes due 2026. The notes were issued at 100% face value and accrue interest payable semi-annually in arrears and mature on February 3, 2026.

In connection with the offering, the company has received binding commitments to exchange approximately US$31.75 million of the company’s existing 13% senior secured notes due 2023, pursuant to private agreements in accordance with the trust indenture, for an equivalent amount of 2026 notes plus accrued but unpaid interest and any negotiated premium thereon.

Columbia Care Inc. is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products and related services with licenses in 18 US jurisdictions and the EU. Columbia Care currently operates 131 facilities including 99 dispensaries and 32 cultivation and manufacturing facilities. Columbia Care is one of the original providers of medical cannabis in the United States, and continues to deliver industry-leading products and services.

Canaccord Genuity acted as sole bookrunner and co-lead agent to Columbia Care. The Canaccord Genuity team included Dan Daviau and Steve Winokur from Investment Banking and Angus Rogers, Mark Hoogeveen, Bill Chrumka, Troy Holmes, Gisbert Segler and Justin Ulster from Fixed Income, with key transactional support from Jennifer Webster.