TILT Holdings Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Notes Payable (Tables)

Notes Payable (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of notes payable and debt issuance costs

Notes payable and debt issuance costs are as follows:


Notes Payable	September 30, 2024		December 31, 2023
Revolving Facility – Interest rate of 11.5% as of September 30, 2024, due on July 21, 2025 ⁽¹⁾	$	3,355	$	4,749
2023 Refinanced Notes – Interest rate of 25.5% per annum as of September 30, 2024, due on February 15, 2026 ⁽²⁾		49,878		39,943
2023 New Notes – Interest rate of 24.5% per annum as of September 30, 2024, due on February 15, 2027 ⁽²⁾		12,275		10,169
2024 Standard Farms Loan		1,643		—
2024 Standard Farms Loan, Derivative Features		1,700		—
Employee Retention Credit note and other loans and borrowings		3,594		3,594
Total debt		72,445		58,455
Less: Debt discount and debt issuance costs		(6,466)		(6,295)
Less: Current portion of notes payable		(28,063)		(17,052)
Total debt, net of discount, net of current portion	$	37,916	$	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 25.5% and 24.5% 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 September 30, 2024 were as follows:


Year ended December 31,	Amount
Remainder of 2024	$	—
2025		11,285
2026		38,000
2027		11,260
2028		—
2029 and thereafter		—
Total principal payments		60,545
Add: Accrued interest		11,900
Total	$	72,445

- 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.

+ References

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+ Details