Saturday, August 2, 2025

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Ascend Wellness Raises US$210 Million From 9.5% Senior Secured Debt Financing

Ascend Wellness Holdings, Inc. (CSE: AAWH.U) reported today that it recently closed a US$210 million financing offering senior secured term loans bearing 9.5% annual interest. The placement was handled by Seaport Global Securities as the lead manager.

According to the terms of the loan, the interest will be payable quarterly in arrears. The debt is secured by a first lien on all company assets and is slated to mature on August 27, 2025.

“We are actively building one of the most robust networks of retail stores and cultivation facilities in the highest quality markets. With our strong balance sheet and successful track record, we are well-positioned to implement our growth strategies to take advantage of the significant market opportunity ahead and drive strong value for our shareholders,” said Ascend Wellness CEO Abner Kurtin.

The financing is expected to strengthen the firm’s cash position which sat at $104.2 million at the end of Q2 2021. Subject to certain conditions, the debt facility can also be increased up to US$65 million should the company wish to do so.

The cannabis operator intends to use the proceeds of the placement on repaying the company’s debts except approximately US$12 million of outstanding acquisition payments, financing the pending investment in MedMen NY, and supporting future growth initiatives.

Ascend Wellness Holdings last traded at US$10.50 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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