JW Asset Management, LLC as adviser to several funds, has completed a pro-rata distribution in kind of 2.15 million common shares of TerrAscend Corp. TRSSF TER .
JW distributed these common shares to certain fund investors to facilitate planned redemptions of the distributees' respective interests in JW Select Investments, LP and JW Opportunities Fund, LLC, which effectively lowered the holdings of JW in TerrAscend common shares. The distributions were offered to all investors in both advised funds. Jason Wild elected to maintain his full investment in all advised funds, and as such did not receive a distribution as part of this transaction.
As a result of the distribution, JW and its joint actors, now own or exercise control or direction over:
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88.21 million common shares of TerrAscend
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7.13 million warrants to acquire common shares of TerrAscend
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10,000 convertible preferred share
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10,000 warrants to acquire convertible preferred shares
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1.2 million options to acquire common shares
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239,881 restricted stock units.
As a result of the distribution and issuance from treasury by TerrAscend, JW and its joint actors now own or exercise control or direction over securities carrying 40.59% of the total voting power attached to all TerrAscend securities on a partially diluted basis.
Prior to the issuances from treasury by TerrAscend, and prior to the pro-rata distribution in kind of common shares to investors on December 23, 2022, for TerrAscend common shares, JW and its joint actors owned or exercised control or direction over securities carrying 44.02% of the total voting power attached to all TerrAscend securities on a partially diluted basis.
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