Manatt Represents MedMen in Modification of Commercial Loan Agreement

Manatt’s Katherine Blair, partner in the Firm’s capital markets practice, represented MedMen Enterprises Inc., a national premium cannabis retailer, as U.S. securities counsel in the modification of its Commercial Loan Agreement, with an aggregate outstanding principal balance of approximately US$114.3 million, entered into by its subsidiary MM CAN USA, Inc. The modifications include extending the maturity date of the loan for a period of six months and amending a US$20 million prepayment as well as various other amendments, and the issuance of US$1 million of MedMen’s Class B Subordinate Voting Shares, which MedMen will include on a resale registration statement.

Manatt has previously represented MedMen in numerous deals including a US$100 million private placement and amended and restated debt facility, two private offerings valued at US$2.9 million and C$20 million, and a US$10 million private placement.

To learn more about the deal, read the press release here.

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