DEBT (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Components of Debt

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

	Effective Interest Rate	Maturity Date	March 31, 2024 (unaudited)		December 31, 2023
Principal amounts:
Second Lien Notes	15%	December 2026	$	79,835	$	75,497
Acquisition Facility	15%	December 2024	57,687		60,125
Acquisition-related promissory notes payable	8% - 16%	August 2024 - April 2027	25,864		35,716
Mortgage loans	6% - 11%	January 2027 - April 2028	29,424		29,456
Total debt subject to scheduled repayments			192,810		200,794
Promissory notes payable to Sammartino (1)	10%	September 2024 - September 2026	21,500		21,500
Jushi Europe debt (2)	n/a	March 2022	3,225		3,298
Total debt			217,535		225,592
Less: debt issuance costs and original issue discounts			(10,478)		(13,037)
Total debt, net			$	207,057	$	212,555
Debt, net - current portion			$	79,877	$	86,514
Debt, net - non-current portion			$	127,180	$	126,041

(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 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 March 31, 2024, aggregate future scheduled repayments of the Company’s debt are as follows:

	Remainder of the year		2025		2026		2027		2028		Total
Second Lien Notes	$	—	$	—	$	79,835	$	—	$	—	$	79,835
Acquisition Facility	57,687		—		—		—		—		57,687
Acquisition-related promissory notes payable	3,750		—		—		22,114		—		25,864
Mortgage loans	438		647		658		9,441		18,240		29,424
Total debt subject to scheduled repayments	$	61,875	$	647	$	80,493	$	31,555	$	18,240	$	192,810

Schedule of Interest Expense

Interest expense, net is comprised of the following:

	Three Months Ended March 31,
	2024		2023
Interest expense
Interest and accretion - Second Lien Notes	$	2,748	$	2,344
Interest and accretion - Finance lease liabilities	2,668		2,349
Interest and accretion - Promissory notes	1,374		1,536
Interest and accretion - Acquisition Facility	2,152		2,296
Interest and accretion - Mortgage loans and other financing activities	706		185
Capitalized interest	—		(188)
Total interest expense	9,648		8,522
Interest income	(104)		(2)
Total interest expense, net	$	9,544	$	8,520