TILT Holdings Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Notes Payable (Tables)

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of notes payable and debt issuance costs

Notes payable are as follows:


Notes Payable	December 31, 2024		December 31, 2023
Revolving Facility – Interest rate of 10.75% as of December 31, 2024, due on July 21, 2025⁽¹⁾	$	4,406	$	4,749
2023 Refinanced Notes – Interest rate of 25.0% per annum as of December 31, 2024, due on February 15, 2026 ⁽²⁾		53,185		39,943
2023 New Notes – Interest rate of 24.0% per annum as of December 31, 2024, due on February 15, 2027⁽²⁾		13,057		10,169
Employee Retention Credit note and other loans and borrowings		3,594		3,594
2024 Standard Farms Loan		2,101		—
2024 Standard Farms Loan, Derivative Features		1,700		—
Total debt		78,043		58,455
Less: Debt discount and debt issuance costs		(5,956)		(6,295)
Less: Current portion of notes payable		(28,336)		(17,052)
Total debt, net of discount, net of current portion	$	43,751	$	35,108

(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 maturities of all notes payable as of December 31, 2024 are as follows:


Year ending December 31,	Amount
2025	$	7,337
2026		38,000
2027		11,260
2028		—
2029		—
2030 and thereafter		—
Total principal payments		56,597
Add: Accrued interest		21,446
Total	$	78,043

- 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