Insights
Firm News

Farella Advises TILT Holdings Inc. on $86.7 Million Debt Refinancing

March 1, 2023 Announcement

Northern California legal powerhouse Farella Braun + Martel advised TILT Holdings Inc., a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development, and retail, on a series of transactions to refinance its $86.7 million legacy debt, effectively reducing TILT’s outstanding debt by 47% over a 12-month period.

Impact of the refinancing according to TILT:

“Anytime a company can reduce its long-term debt by almost 50% over a 12-month period, is remarkable," said Gary Santo, TILT's Chief Executive Officer. “Our ability to withstand unprecedented sector headwinds and overcome the lack of access to traditional banking products and inefficient capital markets is a true testament to the strength and perseverance of our team. Resolving our near-term debt maturities puts TILT on firm footing to be able to focus on revenue growth, improving margins, exploring M&A, and executing against our strategic plan.”

Dana Arvidson, TILT’s Chief Financial Officer, added, “The reduction of TILT’s long-term debt, together with the completion of the sale-leaseback of our Pennsylvania cultivation and manufacturing facility, aligns with our goal of remaining asset-light while maintaining a prudent capital structure.”

Read TILT Holdings Inc.’s press release here.

Led by Ryan Lowther, the Farella deal team included Matthew Lewis and Carolina de Armas.

Farella Braun + Martel is a leading Northern California law firm representing corporate and private clients in sophisticated business transactions and complex commercial, civil, and criminal litigation. Clients seek our imaginative legal solutions and the dynamism and intellectual creativity of our lawyers. We are headquartered in San Francisco and maintain an office in the Napa Valley that is focused on the wine industry.

Contact:
Cheryl Loof
Farella Braun + Martel LLP
415.954.4433 / [email protected]

Firm Highlights

News

Farella Advises K.R. Rombauer in Sale of Rombauer Vineyards

Farella Braun + Martel represented K.R. Rombauer III, a principal owner of Napa Valley’s Rombauer Vineyards, in the sale of the company to E. & J. Gallo’s Luxury Wine Group. E. & J. Gallo’s...

Read More
Publication

What Nonprofit Leaders Need To Know About the Corporate Transparency Act

Welcome to  EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Rowland, and today on EO Radio Show , we are discussing a new law that will have implications for many nonprofit organizations...

Read More
Publication

A Simpler Approach To Expanding Banking Access

While the cannabis community anxiously awaits what feels like Congress’ hundredth attempt to pass the SAFE Banking Act, there is one simple step that can be taken today to improve access to banking services...

Read More
Publication

A Summary of New Laws Coming for California Employers in 2024

In 2023, California has adopted several new employment laws either introducing new employee protections or codifying existing practices into state law. With these changes, employers will need to examine and adjust some of their...

Read More
Publication

Life Is Too Short for Bad Wine Distribution Agreements: 10 Key Considerations

If you are like most wine brands, DTC through your tasting room, club, and website can only take you so far. Success usually means accessing the general on- and off-premise markets, and accessing those...

Read More
News

Farella 2024 Partner Elevations: Cynthia Castillo and Greg LeSaint

Northern California legal powerhouse Farella Braun + Martel is pleased to announce the election of two lawyers to partnership effective Jan. 1: Cynthia Castillo and Greg LeSaint. “We are thrilled to elevate Cynthia and...

Read More
News

Farella Braun + Martel Earns 2024 Best Law FirmsĀ® Rankings

Read More
Publication

Regulatory Changes Underway To Address Dwindling California Property Insurance Market

We keep hearing about how difficult it is for our clients to get property insurance these days, both for homes and businesses in Northern California’s wildfire-prone areas. Which, of course, is most of Northern...

Read More
Publication

Corporate Transparency Act Imposes New Disclosure Obligations on Business Entities Effective January 1, 2024

Corporate Transparency Act Guide - PDF If you own an interest of 25% or more in any business entity or have any substantial control over any business entity (including as a manager or senior...

Read More