Pot Co. IAnthus Aims To Trim $169M Debt Amid Investor Suits

Law360 (July 13, 2020, 7:38 PM EDT) -- Embattled cannabis company iAnthus Capital Holdings Inc. unveiled a restructuring support deal Monday that would wipe out nearly $70 million in debt and resolve a creditor lawsuit in Canadian court as the company looks to fend off litigation over its financing practices. 

iAnthus' outstanding $169 million debt would be reduced to $101 million under the plan, which includes $14 million in interim financing from certain lenders. The company would also issue $20 million worth of stock to lenders and bondholders under the deal, which will require approval by a Canadian court.

As part of the plan, iAnthus has agreed to abandon...

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