A series of deals for a once-promising cannabis company could prove catastrophic
Cannabis borrowers, when they can find a lender, typically face high interest rates and conditions on par with those accepted by distressed companies at risk of bankruptcy. | Steve Helber/AP PhotoIn the heady days of the green rush, iAnthus emerged as one of the most ambitious U.S. companies seeking to cash in on the booming legal marijuana industry.
“They basically brought us out into the middle of the ocean and then drowned us,” said Beth Stavola, iAnthus’ former chief strategy officer. “The iAnthus-Gotham Green situation is … emblematic of a wave of debt financings that we tended to see a couple years ago that we in the industry call ‘loan-to-own,’” Kaufman said. “I’ve seen a lot of lending transactions in this industry that might be characterized as predatory.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Lincoln Celebrates Its 100th Anniversary Under The Ownership Of Ford | CarscoopsLincoln Celebrates Its 100th Anniversary Under The Ownership Of Ford | Carscoops carscoops
Weiterlesen »
Consumer Crackdown: FTC warns buyers to beware of real estate investment promisesThe Federal Trade Commission warns people are taking advantage of investors with promises of huge returns, some even promising to quadruple your money.
Weiterlesen »
Aston Martin F1 team partners with Saudi Arabia's AramcoAston Martin's F1 team has partnered with one of the world's biggest oil companies.
Weiterlesen »
Zuckerberg loses $29 billion in a day as Meta shares crashMark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc's stock marked a record one-day plunge following a disappointing earnings forecast that shook the global tech landscape.
Weiterlesen »
100th Anniversary Miss America is first to represent Alaska and Korean-American communityHave you met Miss America 2022? Pre-med ASU student Emma Broyles is the first to represent Alaska, and the first Korean-American to win the title.
Weiterlesen »
Ford says chip shortage will force it to halt or cut production at 8 plants: reportsDifficulties in obtaining semiconductor chips will prompt Ford Motor to temporarily halt or scale back production at eight plants in North America, the company said Friday, according to reports.
Weiterlesen »