Trulieve Hashish Corp. will repay $368 million in excellent debt properly earlier than the mortgage’s 2026 due date, the corporate stated Tuesday.
The Tallahassee, Florida-based marijuana multistate operator can pay again the total quantity of the 8% mortgage plus curiosity by Dec. 25, in response to a Nov. 4 information launch.
The announcement means Trulieve could also be secure from what some trade observers seek advice from as a “debt tsunami,” with about $6 billion in debt coming due throughout the sector within the subsequent 12 months.
Trulieve pays off most of its debt, however some stays
Trulieve was among the many prime 5 hashish sector debtors accounting for $3.4 billion in debt coming due subsequent 12 months.
Different main marijuana MSOs nonetheless maintain important debt.
Nonetheless, Trulieve nonetheless owes $110 million at 7.9%, in response to its quarterly earnings report launched Wednesday.
The corporate reported shedding $27 million over the quarter on income of $288.2 million.
In response to Trulieve, over the quarter, the corporate bought 12.5 million branded merchandise, a 7% enhance from final 12 months.
It additionally reported $450 million in money readily available as of Sept. 30.
“Our 2025 strategic plan is delivering outcomes, with demonstrable progress on reform, prospects, distribution and branded merchandise,” Trulieve CEO Kim Rivers stated in an announcement.
“Vital flexibility in our core enterprise and powerful money technology proceed to set us aside in a dynamic market.”
Trulieve’s tax debt swells as IRS struggle looms
Nonetheless, Trulieve additionally signaled that its tax challenge stays and is rising.
The corporate reported $616.3 million in “unsure tax liabilities,” up from $445.2 million on the finish of final 12 months.
In previous filings, the corporate has stated its tax liabilities are associated to its place that it might declare enterprise deductions that the IRS denies to plant-touching hashish corporations beneath hated Inner Income Service Code 280E.
Trulieve first started claiming publicly that it was owed refunds from the IRS over 280E in 2023.
It’s one among a number of MSOs which can be establishing what some tax consultants warn is a “high-risk struggle” with the federal taxman.
The corporate operates 232 hashish shops throughout the nation and cultivates 4 million sq. toes of cover, in response to Wednesday’s launch.
