TILT Holdings Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Notes Payable (Tables)

Notes Payable (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of notes payable and debt issuance costs

Notes payable and debt issuance costs are as follows:


Notes Payable	March 31, 2025		December 31, 2024
Revolving Facility – Interest rate of 10.5% as of March 31, 2025, due on July 21, 2025 ⁽¹⁾	$	4,394	$	4,406
2023 Refinanced Notes – Interest rate of 25.0% per annum as of March 31, 2025, due on February 15, 2026 ⁽²⁾		56,652		53,185
2023 New Notes – Interest rate of 24.0% per annum as of March 31, 2025, due on February 15, 2027 ⁽²⁾		13,855		13,057
Employee Retention Credit note and other loans and borrowings		2,563		3,594
2024 Standard Farms Loan		8,107		2,101
2024 Standard Farms Loan, Derivative Features		—		1,700
Total debt		85,571		78,043
Less: Debt discount and debt issuance costs		(8,384)		(5,956)
Less: Current portion of notes payable		(64,991)		(28,336)
Total debt, net of discount, net of current portion	$	12,196	$	43,751

_____________

(1)The Revolving Facility initially matured on July 21, 2024 and automatically renewed on July 21, 2024 for a one-year term to an updated maturity date of July 21, 2025. The Revolving Facility will continue to renew for successive one-year terms unless terminated by the Company or the lender.

(2)The interest rates of 25.0% and 24.0% are the default interest rates in effect.

Schedule of future principal payments due and interest accrued

Future principal payments due and interest accrued as of March 31, 2025 were as follows:


Year ended December 31,	Amount
Remainder of 2025	$	6,292
2026		38,000
2027		13,020
Total principal payments		57,312
Add: Accrued interest		28,259
Total	$	85,571

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details