DEBT (Tables)

12 Months Ended

Dec. 31, 2023

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


	Effective Interest Rate	Contractual Maturity Date	As of December 31,
			2023		2022
Principal amounts:
Second Lien Notes	15%	December 2026	$	75,497	$	73,182
Acquisition Facility	15%	December 2024	60,125		65,000
Acquisition-related promissory notes payable	8% - 23%	August 2024 - April 2027	35,716		35,716
Mortgage loans	6% - 11%	January 2027 - April 2028	29,456		7,770
Total debt subject to scheduled repayments			200,794		181,668
Promissory notes payable to Sammartino (1)	11%	September 2024 - September 2026	21,500		21,500
Jushi Europe debt (2)		March 2022	3,298		3,189
Total debt			225,592		206,357
Less: debt issuance costs and original issue discounts			(13,037)		(17,095)
Total debt, net			$	212,555	$	189,262
Debt, net - current portion			$	86,514	$	8,704
Debt, net - non-current portion			$	126,041	$	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 22 - 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 21 - Related Party Transactions for more information.

Schedule of Future Contractual Debt Maturities

As of December 31, 2023, aggregate future contractual maturities of the Company’s debt are as follows:


	2024		2025		2026		2027		2028		Total
Second Lien Notes	$	—	$	—	$	75,497	$	—	$	—	$	75,497
Acquisition Facility	60,125		—		—		—		—		60,125
Acquisition-related promissory notes payable	9,333		1,970		1,971		22,442		—		35,716
Mortgage loans	462		647		658		9,449		18,240		29,456
Total debt subject to scheduled repayments	$	69,920	$	2,617	$	78,126	$	31,891	$	18,240	$	200,794

Schedule of Interest Expense

Interest expense, net is comprised of the following:


	Year Ended December 31,
	2023		2022		2021
Interest and accretion - 10% Senior Notes	$	—	$	23,268	$	19,257
Interest and accretion - Second Lien Notes	10,106		578		—
Interest and accretion - Finance lease liabilities	9,784		11,154		9,158
Interest and accretion - Acquisition Facility	9,466		7,264		1,106
Interest and accretion - Promissory notes	6,173		5,518		1,802
Interest and accretion - Mortgage loans and other financing activities	2,051		567		507
Capitalized interest	(523)		(2,616)		(977)
Total interest expense	37,057		45,733		30,853
Interest income	(91)		(142)		(243)
Total interest expense, net	$	36,966	$	45,591	$	30,610