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.
Specialty finance company, Silver Spike Investment Corp. (NASDAQ: SSIC) was formed to invest across the cannabis ecosystem through investments such as direct loans to and equity ownership of privately held marijuana companies.
Even top multi-state operators (MSOs) are feeling the impact of the demand and supply capital imbalance faced by the cannabis industry, says Cantor Fitzgerald's Pablo Zuanic who noted that refinancings are being undertaken at higher than normal costs.
The Illinois Department of Financial and Professional Regulation (IDFPR) announced that 2022 set adult-use cannabis sales records in all categories it tracks, including the number of items sold, sales totals to Illinois and out-of-state residents, and sales total by month, reported NewsChannel20.
Federal prohibition makes it difficult for a cannabis business to operate fair and square. Not only is it depriving them from access to the financial system, but it also denies them the right to any U.S. federal income tax deduction for ordinary and necessary business expenses, despite being recognized as a legal business on the state level.