Silver Spike Investment Corp. Expands Loan Portfolio with Senior Secured Credit Facility to MariMed Inc.
Silver Spike Investment Corp. (NASDAQ: SSIC) has co-led a $35 million senior secured credit facility for MariMed Inc., a multi-state cannabis operator. This investment is part of SSIC's strategy to support growth in the cannabis sector, with confidence in MariMed's management to execute on their plans. Silver Spike Capital's Co-Head of Credit, Dino Colonna, emphasized their cautious approach in these volatile markets while seeking quality operators for their portfolio. SSIC is structured as a business development company, focusing on direct loans to cannabis businesses.
- SSIC co-led a $35 million credit facility for MariMed, indicating strong confidence in the cannabis sector.
- Investment supports MariMed's growth, which may enhance SSIC's portfolio performance.
- SSIC's methodical underwriting approach suggests disciplined risk management.
- None.
NEW YORK, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Silver Spike Investment Corp. (NASDAQ: SSIC) (“SSIC”) co-led and participated in the recently announced MariMed Inc. (“MariMed”)
“We are excited to support MariMed in their next stage of growth and have great confidence in the management team and their ability to execute. We have been methodical in underwriting and deploying capital in these volatile markets and are thrilled to add such a high quality and experienced operator to our portfolio,” said Dino Colonna, Silver Spike Capital’s Co-Head of Credit.
About Silver Spike Investment Corp.
Silver Spike Investment Corp. (“SSIC”) is a specialty finance company formed to invest across the cannabis ecosystem through investments in the form of direct loans to cannabis companies. SSIC has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. SSIC is managed by Silver Spike Capital, LLC, an investment manager focused on the cannabis and alternative health and wellness industries.
Forward-Looking Statements
Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about SSIC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond SSIC’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in SSIC’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which SSIC makes them. SSIC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Contacts
Investors:
Bill Healy
Bill@silverspikecap.com
212-905-4933
Media:
Alan Oshiki and Sydney Gever
Abernathy MacGregor
Silverspikecapital@abmac.com
212-371-5999
FAQ
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