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DEBT (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Components of Debt
The components of the Company’s debt are as follows:
Effective Interest RateMaturity DateSeptember 30, 2022December 31, 2021
Principal amounts:
Senior Notes38%January 2023$74,935 $75,193 
Acquisition Facility14%October 202665,000 40,000 
Acquisition-related promissory notes payable
8% - 23%
November 2022 - April 2027
59,628 25,767 
Other debt (1)
7% - 12%
March 2022 - July 2050
16,639 11,728 
Total debt - principal amounts$216,202 $152,688 
Less: debt issuance costs and original issue discounts(16,303)(23,536)
Total debt - carrying amounts$199,899 $129,152 
Debt - current portion$137,967 $6,181 
Debt - non-current portion$61,932 $122,971 
(1) Includes Jushi Europe debt. Refer to Note 16 - Non-Controlling Interests.
Schedule of Future Contractual Debt Maturities
As of September 30, 2022, aggregate future contractual maturities of the Company’s debt are as follows:
Remainder of the year2023202420252026ThereafterTotal
Senior Notes$— $74,935 $— $— $— $— $74,935 
Acquisition Facility— — 4,875 6,500 53,625 — 65,000 
Acquisition-related promissory notes payable (1)
2,411 3,449 22,385 1,970 6,971 22,442 59,628 
Other debt3,831 588 116 125 132 11,847 16,639 
Total$6,242 $78,972 $27,376 $8,595 $60,728 $34,289 $216,202 
(1) The Promissory Note that matures in 2022 is a mandatorily convertible note, and the Company issued 910,000 SVS on November 21, 2022 to settle the outstanding balance.
Schedule of Interest Expense
Interest expense, net is comprised of the following:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Interest and accretion - Senior Notes$6,779 $4,673 $18,015 $14,244 
Interest - Finance lease liabilities2,754 2,516 8,668 6,203 
Interest and accretion - Promissory notes1,709 418 3,794 1,033 
Interest and accretion - Acquisition Facility1,918 — 5,212 — 
Interest and accretion - Other debt266 117 885 370 
Capitalized interest(124)(222)(2,171)(461)
Total interest expense$13,302 $7,502 $34,403 $21,389 
Interest income(191)(60)(229)(244)
Total interest expense, net$13,111 $7,442 $34,174 $21,145 
Schedule of Total Leverage Ratio
Total Leverage Ratio, calculated as the ratio of Total Funded Indebtedness to EBITDAR (all such terms are defined in the Acquisition Facility agreement) not to exceed the correlative ratio below:
Applicable RatioFiscal Quarter Ending
6.00 to 1.00
March 31, 2023
5.00 to 1.00
June 30, 2023
4.00 to 1.00
September 30 and December 31, 2023
3.50 to 1.00
March 31, 2024 and all fiscal quarters ending thereafter