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Sunday, September 27, 2020

Why Curaleaf Holdings Inc (OTCMKTS:CURLF) Continues to Be Positioned for Success

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One stock that continues to be out in front of the pack in the cannabis patch is Curaleaf Holdings Inc (OTCMKTS:CURLF). To help put more flesh on the bone, the company just announced the upsizing and closing of a Senior Secured Term Loan Facility from a syndicate of lenders totaling US$300 million.

According to the release, “The notes bear interest at a rate of 13.0% per annum, payable quarterly in arrears, with a maturity 48 months from closing. The proceeds will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced acquisitions, fund capital expenditures and for general corporate purposes. The sole placement agent for the Facility is Seaport Global Securities LLC.”

Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.

The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.

Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.

Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.

It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.

The company also provides non-cannabis services to licensed cannabis operators in the areas of cultivation, extraction and production, and retail operations. As of November 01, 2018, it operated a network of 29 dispensaries. The company was founded in 2010 and is headquartered in Wakefield, Massachusetts.

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As noted above, CURLF just announced the upsizing and closing of a Senior Secured Term Loan Facility from a syndicate of lenders totaling US$300 million.

Traders will note 38% piled on for shareholders of the stock during the trailing month. Moreover, the company has benefitted from a jump in recent trading volume to the tune of 49% beyond what we have been seeing over the larger time frame.

“We are pleased with the upsizing and closing of the deal at what we believe to be attractive terms,” said Joseph Lusardi, Chief Executive Officer of Curaleaf. “Most importantly we strengthened our balance sheet without diluting our existing shareholders. With the completion of this transaction, we have ample liquidity to execute on our strategy and are well-positioned to take advantage of the significant market opportunities that exist in this space.”

At this time, carrying a capital value in the market of $2.7B, CURLF has a significant war chest ($120.8M) of cash on the books, which compares with about $98.5M in total current liabilities. One should also note that debt has been growing over recent quarters. CURLF is pulling in trailing 12-month revenues of $235.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 192.3%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $CURLF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CURLF, either long or short, and we have not been compensated for this article.

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