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

Quarterly report [Sections 13 or 15(d)]

Notes Payable (Tables)

Notes Payable (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of notes payable and debt issuance costs

Notes payable and debt issuance costs are as follows:


Notes Payable	June 30, 2025		December 31, 2024
Revolving Facility – Interest rate of 10.5% as of June 30, 2025, due on July 21, 2025 ⁽¹⁾	$	1,587	$	4,406
2023 Refinanced Notes – Interest rate of 25.0% per annum as of June 30, 2025, due on February 15, 2026 ⁽²⁾		60,457		53,185
2023 New Notes – Interest rate of 24.0% per annum as of June 30, 2025, due on February 15, 2027 ⁽²⁾		14,713		13,057
Employee Retention Credit note and other loans and borrowings		632		3,594
2024 Standard Farms Loan		10,468		2,101
2024 Standard Farms Loan, Derivative Features		—		1,700
Total debt		87,857		78,043
Less: Debt discount and debt issuance costs		(7,793)		(5,956)
Less: Current portion of notes payable		(66,542)		(28,336)
Total debt, net of discount, net of current portion	$	13,522	$	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 June 30, 2025 were as follows:


Year ended December 31,	Amount
Remainder of 2025	$	632
2026		39,587
2027		14,404
Total principal payments		54,623
Add: Accrued interest		33,234
Total	$	87,857

- 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