Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.23.1
DEBT (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Components of Debt
The components of the Company’s debt are as follows:
Effective Interest Rate Maturity Date March 31, 2023 December 31, 2022
Principal amounts:
Second Lien Notes 15% December 2026 $ 73,933  $ 73,182 
Acquisition Facility 15% December 2024 65,000  65,000 
Acquisition-related promissory notes payable
8% - 18%
August 2024 - April 2027
 57,216  57,216 
Other Debt (1)
7% - 9%
March 2022 - July 2027
 12,860  10,960 
Total debt - principal amounts $ 209,009  $ 206,358 
Less: debt issuance costs and original issue discounts (15,668) (17,096)
Total debt - carrying amounts $ 193,341  $ 189,262 
Debt - current portion $ 11,734  $ 8,704 
Debt - non-current portion $ 181,607  $ 180,558 
(1) Includes Jushi Europe debt. Refer to Note 15 - Related Party Transactions for more information.
Schedule of Future Contractual Debt Maturities
As of March 31, 2023, aggregate future contractual maturities of the Company’s debt are as follows:
Remainder of the year 2024 2025 2026 2027 Total
Second Lien Notes $ —  $ —  $ —  $ 73,933  $ —  $ 73,933 
Acquisition Facility 4,875  60,125  —  —  —  65,000 
Acquisition-related promissory notes payable 3,448  22,385  1,970  6,971  22,442  57,216 
Other debt (1)
3,407  165  178  189  8,921  12,860 
Total $ 11,730  $ 82,675  $ 2,148  $ 81,093  $ 31,363  $ 209,009 
(1)The other debt amounts due for the remainder of the year include the Jushi Europe debt, which became due in 2022 and is not expected to be settled and/or repaid until the completion of the liquidation of Jushi Europe. Refer to Note 15 - Related Party Transactions for additional information.
Schedule of Interest Expense
Interest expense, net is comprised of the following:
Three Months Ended March 31,
2023 2022
Interest expense
Interest and accretion - 10% Senior Notes
 $ —  $ 5,398 
Interest and accretion - Second Lien Notes 2,344  — 
Interest and accretion - Finance lease liabilities 2,349  2,901 
Interest and accretion - Promissory notes 1,536  737 
Interest and accretion - Acquisition Facility 2,296  1,360 
Interest and accretion - Other debt 185  479 
Capitalized interest (188) (744)
Total interest expense $ 8,522  $ 10,131 
Interest income (2) (15)
Total interest expense, net $ 8,520  $ 10,116