Arizona-based marijuana vaporizer company Tilt Holdings entered a debt and security agreement that extends its credit line with Smoore Technology effective Jan. 28.

Under the agreement, according to a news release, Smoore will sell and ship CCell vape hardware products on credit to Tilt’s subsidiary, Jupiter Research.

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Jupiter will guarantee the payment of any amount owed to Smoore in excess of the amounts for which Smoore receives through insurance for any unpaid invoices that are older than 120 days.

The insurance will be provided by Sinosure, a Chinese export and credit insurance corporation.

The guarantee allows Tilt to increase and secure its credit line to support customer demand.

Smoore will have a first lien security interest in Tilt’s assets.

Tilt also agreed to reduce to $25 million its outstanding balance owed to Smoore by the end of 2024 in a letter agreement.

The company will also commit to a repayment-plan structure that will prioritize invoices older than 150 days, then invoices that are 120 days old.

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“We believe coming to an agreement with Smoore was an important and necessary step to expand our business and meet our customer needs as they continue to grow,” Tilt CEO Tim Conder in a said in a statement.

“We recently shipped one of the largest orders of CCELL products in Jupiter’s history ahead of the upcoming Chinese New Year holiday.

“Further, given Smoore’s new first lien status, we have engaged in discussions for a forbearance agreement with our noteholders, who have been very supportive throughout this process as we work together to maximize stakeholder value.”