Silver Spike Investment Corp. SSIC, allocated a total of $21 million to recently announced Verano Holdings Corp.VRNOF $350 million senior secured credit facility. Verano is a vertically integrated, multi-state cannabis operator in the United States, dedicated to the continuous improvement of collective well-being by providing responsible access to regulated cannabis products.
“We are excited to continue to grow SSIC’s loan portfolio, especially with leading cannabis companies such as Verano. The broader capital markets have been volatile this year, but we believe our methodical approach to underwriting and expertise positions us well to take advantage of the imbalance between supply and demand for debt capital in the market,” said Frank Kotsenhead of credit at Silver Spike Capital.
About Silver Spike Investment
Silver Spike Investment is a specialist finance company created to invest in the cannabis ecosystem through investments in the form of direct loans to cannabis companies. SSIC has elected to be treated as a business development company under the Investment Companies Act 1940, as amended. SSIC is managed by Silver Spike Capital, LLC, an investment manager focused on the cannabis and alternative health and wellness industries.
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