FLUENT Corp. Announces Amendment to Senior Secured Credit Agreement

Core Viewpoint - FLUENT Corp. has amended its senior secured credit agreement to draw an additional $6 million for working capital and corporate purposes, with a PIK interest rate of 13% and maturity on December 31, 2026 [1][2]. Company Overview - FLUENT is a vertically-integrated, multi-state cannabis company operating in Florida, New York, and Texas, focusing on high-quality cannabis products and retail experiences [4]. - The company employs approximately 650 staff across 8 cultivation and manufacturing facilities and 35 retail locations, with a wholesale division named ENTOURAGE [4]. Financial Details - The amendment allows FLUENT to access $6 million in term loans, which will be used for working capital and general corporate purposes [2]. - The term loans carry a paid-in-kind interest rate of 13% per annum [2]. Industry Context - FLUENT operates within the legal cannabis industry in the United States, which is subject to significant legal restrictions and regulations [11]. - Cannabis remains a Schedule I drug under U.S. federal law, creating complexities for financial transactions related to cannabis businesses [11][12].