TILT Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Notes Payable (Tables)

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of notes payable and debt issuance costs

Notes payable are as follows:


Notes Payable	December 31, 2023			December 31, 2022
Revolving Facility – Interest rate of 11.5% as of December 31, 2023, due on July 21, 2024⁽¹⁾	$	4,749		$	10,880
2019 Senior Notes – Interest rate of 16.0% per annum, due on February 28, 2023		—			2,169
2019 Junior Notes – Interest rate of 8.0% per annum, due on April 1, 2023		—			46,497
2023 Refinanced Notes – Interest rate of 17.0% per annum as of December 31, 2023, due on February 15, 2026		39,943			—
2023 New Notes – Interest rate of 25.0% per annum as of December 31, 2023, due on February 15, 2027⁽²⁾		10,169			—
2023 Bridge Notes – Paid in August 2023		—			—
Employee Retention Credit note and other loans and borrowings		3,594			350
Total debt		58,455			59,896
Less: Debt discount and debt issuance costs		(6,295)	⁽²⁾		(168)
Less: Current portion of notes payable		(17,052)			(59,378)
Total debt, net of discount, net of current portion	$	35,108		$	350

(1)

The Revolving Facility initially matures on July 21, 2024 and automatically renews for successive one-year terms unless terminated by the Company or the lender.

(2)

The interest rate of 25.0% is the default interest rate in effect. See below for additional information.

Schedule of future maturities

Future maturities of all notes payable as of December 31, 2023 are as follows:


Year ending December 31,	Amount
2024	$	13,537
2025		5,000
2026		29,749
2027		10,169
2028		—
2029 and thereafter		—
Total	$	58,455

- 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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