DEBT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Components of Debt

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

	Effective Interest Rate	Maturity Date	September 30, 2024 (unaudited)		December 31, 2023
Principal amounts:
Second Lien Notes	15%	December 2026	$	81,253	$	75,497
Term Loans	26%	September 2026 (2)	48,500		—
Acquisition Facility	n/a	n/a	—		60,125
Acquisition-related promissory notes payable	8% - 12%	April 2027	22,114		35,716
Mortgage loans	6% - 11%	January 2027 - April 2028	29,192		29,456
Total debt subject to scheduled repayments			181,059		200,794
Promissory notes payable to Sammartino (1)	10%	September 2024 - September 2026	21,500		21,500
Jushi Europe debt	n/a	n/a	—		3,298
Total debt			202,559		225,592
Less: debt issuance costs and original issue discounts			(17,068)		(13,037)
Total debt, net			$	185,491	$	212,555
Debt, net - current portion			$	1,781	$	86,514
Debt, net - non-current portion			$	183,710	$	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. The Company currently has no obligation to pay the principal and interest. See further discussion of the Sammartino Matter in Note 16 - Commitments and Contingencies for more information.

(2)Matures the earlier of (a) January 31, 2027 and (b) the date that is 91 days prior to the final maturity of the Second Lien Notes.

Schedule of Future Contractual Debt Maturities

As of September 30, 2024, aggregate future scheduled repayments of the Company’s debt were as follows:

	Remainder of the year		2025		2026		2027		2028		Total
Second Lien Notes	$	—	$	—	$	81,253	$	—	$	—	$	81,253
Acquisition-related promissory notes payable	—		—		—		22,114		—		22,114
Mortgage loans	160		647		658		9,440		18,287		29,192
Term Loans	—		2,425		46,075		—		—		48,500
Total debt subject to scheduled repayments	$	160	$	3,072	$	127,986	$	31,554	$	18,287	$	181,059

Schedule of Interest Expense

Interest expense, net is comprised of the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Interest expense
Interest and accretion - Second Lien Notes	$	2,838	$	2,640	$	8,513	$	7,568
Interest and accretion - Term Loans	1,832		—		1,832		—
Interest and accretion - Finance lease liabilities	2,478		2,335		7,550		7,282
Interest and accretion - Promissory notes	1,043		1,547		3,699		4,625
Interest and accretion - Acquisition Facility	658		2,298		4,845		7,265
Interest and accretion - Mortgage loans and other financing activities	661		612		2,037		1,422
Capitalized interest	—		(54)		—		(464)
Total interest expense	9,510		9,378		28,476		27,698
Interest income	(128)		(33)		(479)		(43)
Total interest expense, net	$	9,382	$	9,345	$	27,997	$	27,655