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:
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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.
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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 …