Silver Spike Investment Corp. (NASDAQ: SSIC) is a specialty finance company formed to invest across the cannabis ecosystem through investments in the form of direct loans to cannabis companies.
The company allocated a total of $21 million to the Verano Holdings Corp. (OTCQX: VRNOF) $350 million senior secured credit facility in November and reported net investment income of $550,415 for the Q2 2023, compared to net investment loss of $128,186 in Q2 2022.
On January 18th, cannabis REIT, Innovative Industrial Properties, Inc. (NYSE: IIPR), announced that three of its tenants are in default:
SH Parent, Inc. (Parallel) was in default on its obligations to pay rent at one of IIP’s Pennsylvania properties (approximately 2.9% of invested / committed capital). Rent was paid in full through January 31, 2023 on all other IIPR properties leased by Parallel.
Green Peak Industries, Inc. (Skymint) was in default on its obligations to pay rent at one of IIPR’s Michigan properties under construction (approximately 2.7% of invested / committed capital). Rent was paid in full through January …