MedMen Raises $20M In Debt Financing

Law360 (September 17, 2020, 6:20 PM EDT) -- Cannabis retailer MedMen has secured financing worth $20 million through a mix of debt agreements, accepting 18% interest on a portion of the total and offering up generous equity incentives for lenders.

The loans announced Wednesday are led by cannabis private equity fund Gotham Green Partners and family office Stable Road Capital, both of which have lent money to California-based MedMen before. The deals come as the company looks to bounce back from a cash crunch from earlier this year as well as the departure of its two founders.

MedMen Executive Chairman Ben Rose said the loans are votes of confidence...

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