Livingstone raises $50MM of debt capital for private MSO

  • aug. 2021
  • Consumer
  • Debt Advisory
  • US
  • CAPITAL-RAISE

Livingstone, in conjunction with its affiliate Sharp Capital Advisors, has successfully raised $50mm of committed debt financing for Aeriz Holdings Corp. (“Aeriz” or “The Company”), one of the U.S. cannabis industry’s largest privately-held multi-state operators (“MSOs”). Known for cultivating top-shelf indoor flower, Aeriz has developed significant market positions and brand recognition across its three markets, Illinois, Arizona, and California. Chicago Atlantic Group (“Chicago Atlantic”) provided the financing, which will be used principally to expand cultivation operations.

Founded in 2016 and headquartered in Chicago, Illinois, Aeriz is the largest cannabis cultivator utilizing the aeroponic process. Privately owned, Aeriz has experienced significant growth, pioneered innovation, and reduced its environmental impact while consistently delivering high-quality premium products. The Company’s highly efficient aeroponic growing method allows for rapid scaling across markets, resulting in a portfolio comprised of dozens of proprietary strains at any given time.

Our process allowed Aeriz and its management team to focus on their expansion efforts, while our team worked with several leading lending institutions to find the best pricing, terms, and structure for our client. The partnership between Chicago Atlantic and Aeriz, will allow Aeriz’s management the flexibility to pursue multiple growth opportunities over the next several years,” shared Tom Lesch, Partner at Livingstone.

While the equity markets for U.S. MSOs are in complete disarray, the private debt capital markets are rapidly filling the void,” stated Stephen Miles, Co-Founder & CEO of Sharp. “Aeriz is truly an exceptional company with rapidly growing wholesale operations in 3 markets that will generate nearly $10BN in revenue in 2021. Their commitment to product quality, coupled with a uniquely well-capitalized balance sheet, will ensure Aeriz’s position as a top-tier MSO as the industry enters its next phase of growth and consolidation.

The completion of this transaction further demonstrates Livingstone’s ability to be a valuable advocate and partner to strategic companies seeking capital to fund growth.


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Key Transaction Team

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