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DEBT (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Components of Debt
The components of the Company’s debt are as follows:
Effective Interest RateMaturity DateSeptember 30, 2023December 31, 2022
Principal amounts:
Second Lien Notes15%December 2026$73,991 $73,182 
Acquisition Facility15%December 202462,563 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
29,505 7,770 
Total debt subject to scheduled repayments201,775 181,668 
Promissory notes payable to Sammartino (1)
11%
September 2024 - September 2026
21,500 21,500 
Jushi Europe debt (2)
n/aMarch 20223,162 3,190 
Total debt226,437 206,358 
Less: debt issuance costs and original issue discounts(14,346)(17,096)
Total debt, net$212,091 $189,262 
Debt, net - current portion$35,620 $8,704 
Debt, net - non-current portion$176,471 $180,558 
(1)This amount is related to the promissory notes issued to Sammartino in connection with the acquisition of Nature's Remedy in September 2021. Any repayment of principal and interest are currently on hold until the resolution of the Sammartino Matter. Refer to Note 18 - Commitments and Contingencies for more information.
(2)On February 16, 2022, Jushi Europe SA, a company organized under the laws of Switzerland (“Jushi Europe”), filed a notice of over-indebtedness with the Swiss courts. Then, the Swiss courts declared Jushi Europe’s bankruptcy on May 19, 2022. As a result, Jushi Europe updated its corporate name to Jushi Europe SA in liquidation, which is still on-going. This debt balance will be adjusted, including the extinguishment of any outstanding debt, upon the final liquidation of Jushi Europe. Refer to Note 17 - Related Party Transactions for more information.
Schedule of Future Contractual Debt Maturities
As of September 30, 2023, aggregate future scheduled repayments of the Company’s debt are as follows:
Remainder of the year2024202520262027ThereafterTotal
Second Lien Notes$— $— $— $73,991 $— $— $73,991 
Acquisition Facility2,438 60,125 — — — — 62,563 
Acquisition-related promissory notes payable3,448 5,885 1,970 1,971 22,442 — 35,716 
Mortgage loans54 485 658 669 9,399 18,240 29,505 
Total debt subject to scheduled repayments$5,940 $66,495 $2,628 $76,631 $31,841 $18,240 $201,775 
Schedule of Interest Expense
Interest expense, net is comprised of the following:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Interest expense
Interest and accretion - 10% Senior Notes
$— $6,779 $— $18,015 
Interest and accretion - Second Lien Notes2,640 — 7,568 — 
Interest and accretion - Finance lease liabilities2,335 2,754 7,282 8,668 
Interest and accretion - Promissory notes
1,547 1,709 4,625 3,794 
Interest and accretion - Acquisition Facility2,298 1,918 7,265 5,212 
Interest and accretion - Mortgage loans and other financing activities612 266 1,422 885 
Capitalized interest(54)(124)(464)(2,171)
Total interest expense9,378 13,302 27,698 34,403 
Interest income(33)(191)(43)(229)
Total interest expense, net$9,345 $13,111 $27,655 $34,174