Silver Spike Investment Expands Loan Portfolio With Senior Secured Credit Facility To Verano

Silver Spike Investment Corp. SSIC, allocated a total of $21 million to the recently announced Verano Holdings Corp.VRNOF $350 million senior secured credit facility. Verano is a vertically integrated, multi-state cannabis operator in the U.S., devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products.

“We are excited to continue to grow SSIC’s loan portfolio, especially with top tier cannabis companies such as Verano. The broader capital markets have been volatile this year, yet we believe that our methodical approach to underwriting and expertise positions us well to capitalize on the supply-demand imbalance for debt capital in the marketplace,” stated Frank Kotsen, Silver Spike Capital’s head of credit.

About Silver Spike Investment

Silver Spike Investment is a specialty finance company formed to invest across 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 Company Act of 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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Photo by Tim Foster on Unsplash

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