GTI Secures $50M Credit Boost

CHICAGO – Green Thumb Industries Inc. has increased its syndicated credit facility by $50 million, raising the total borrowing capacity to $189 million.

This incremental draw carries the same market-competitive terms as the original September 2024 facility: interest at SOFR plus 500 basis points, with maturity extended to September 11, 2029. Proceeds are earmarked for general corporate purposes, including potential strategic investments and working capital, without any equity component involved in the transaction. Founder, chairman, and CEO Ben Kovler noted in the release that the addition “at a low rate should be good for our shareholders long term.”

The move arrives against a backdrop of persistent federal hurdles that limit traditional lending for most Cannabis businesses. Green Thumb’s ability to secure [and now expand] this facility underscores its standing among the sector’s better-capitalized players. With reported cash reserves of $226 million entering late 2025 and consistent cash-flow generation from its RISE Dispensaries network and core brands, the company has maintained a liquidity cushion that reduces pressure to tap equity markets during periods of valuation volatility.

The expansion reflects several dynamics at play:

• First, it demonstrates lender comfort with Green Thumb’s operational execution and balance-sheet discipline following the initial 2024 refinancing, which replaced costlier near-term debt.
• Second, at SOFR + 500 bps [still viewed as favorable within the federally restricted space] the pricing highlights how scale, track record, and banking relationships can yield advantages unavailable to smaller operators.
• Third, the incremental capacity provides dry powder for opportunistic deployment, whether in retail footprint growth, product-line extensions, or selective M&A, all without immediate shareholder dilution.

For a company already operating from a position of relative strength, this modest but meaningful credit increase extends its runway. It keeps Green Thumb nimble in a market defined by regulatory gridlock at the federal level and intensifying competition within states, allowing management to prioritize long-term value creation over short-term financing constraints that continue to weigh on much of the industry.