DEBT (Tables)

6 Months Ended

Jun. 30, 2023

The components of the Company’s debt are as follows:


	Effective Interest Rate	Maturity Date	June 30, 2023		December 31, 2022
Principal amounts:
Second Lien Notes	15%	December 2026	$	74,330	$	73,182
Acquisition Facility	15%	December 2024	65,000		65,000
Acquisition-related promissory notes payable	8% - 23%	August 2024 - April 2027	35,716		35,716
Mortgage loans	6% - 9%	January 2027 - April 2028	29,552		7,770
Total debt subject to scheduled repayments			204,598		181,668
Promissory notes payable to Sammartino (1)	11%	September 2024 - September 2026	21,500		21,500
Jushi Europe debt (2)	n/a	March 2022	3,254		3,190
Total debt			229,352		206,358
Less: debt issuance costs and original issue discounts			(15,920)		(17,096)
Total debt, net			$	213,432	$	189,262
Debt, net - current portion			$	14,791	$	8,704
Debt, net - non-current portion			$	198,641	$	180,558

(1)This amount is related to the promissory notes issued to Sammartino in connection with the acquisition of Nature's Remedy in September 2021. Any repayment of principal and interest are currently on hold until the resolution of the Sammartino Matter. Refer to Note 18 - Commitments and Contingencies for more information.

(2)On February 16, 2022, Jushi Europe SA, a company organized under the laws of Switzerland (“Jushi Europe”), filed a notice of over-indebtedness with the Swiss courts. Then, the Swiss courts declared Jushi Europe’s bankruptcy on May 19, 2022. As a result, Jushi Europe updated its corporate name to Jushi Europe SA in liquidation, which is still on-going. This debt balance will be adjusted, including the extinguishment of any outstanding debt, upon the final liquidation of Jushi Europe. Refer to Note 17 - Related Party Transactions for more information.

Schedule of Future Contractual Debt Maturities

As of June 30, 2023, aggregate future scheduled repayments of the Company’s debt are as follows:


	Remainder of the year		2024		2025		2026		2027		Thereafter		Total
Second Lien Notes	$	—	$	—	$	—	$	74,330	$	—	$	—	$	74,330
Acquisition Facility	4,875		60,125		—		—		—		—		65,000
Acquisition-related promissory notes payable	3,448		5,885		1,970		1,971		22,442		—		35,716
Mortgage loans	101		485		658		669		9,399		18,240		29,552
Total debt subject to scheduled repayments	$	8,424	$	66,495	$	2,628	$	76,970	$	31,841	$	18,240	$	204,598

Schedule of Interest Expense

Interest expense, net is comprised of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Interest expense
Interest and accretion - 10% Senior Notes	$	—	$	5,838	$	—	$	11,236
Interest and accretion - Second Lien Notes	2,584		—		4,928		—
Interest and accretion - Finance lease liabilities	2,598		3,013		4,947		5,914
Interest and accretion - Promissory notes	1,542		1,347		3,078		2,084
Interest and accretion - Acquisition Facility	2,671		1,854		4,967		3,294
Interest and accretion - Mortgage loans and other financing activities	625		221		810		620
Capitalized interest	(222)		(1,303)		(410)		(2,047)
Total interest expense	9,798		10,970		18,320		21,101
Interest income	(8)		(23)		(10)		(38)
Total interest expense, net	$	9,790	$	10,947	$	18,310	$	21,063