REFI Issues $62.5M Stock for High-Yield Cannabis Loans at Premium to Market
REFI is trading near its 52-week low of $10.56 (1.6% above the low).
Summary
REFI is acquiring $62.5M of second-lien notes from Koach by issuing 4.3M shares at $14.53—a 35% premium to its $10.73 market price. The notes yield 12% (10% cash, 2% PIK), mature in ~12 years, and are backed by 32 cannabis retail properties. This follows the June 18 merger announcement with LIEN and adds high-yield assets that will factor into the exchange ratio. The premium issuance signals strong counterparty conviction despite the stock trading near its 52-week low. Lock-ups on the new shares for 3–6 months limit immediate selling pressure.
At the time of this announcement, REFI was trading at $10.73 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $228.7M. The 52-week trading range was $10.56 to $14.57. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.