Cannabis Loan

Ascend Wellness Cannabis Co. Closes $235M Private Placement Of Senior Secured Notes, Refinances Existing Term Loan

New York-headquartered cannabis company Ascend Wellness Holdings, Inc. (CSE: AAWH-U.CN) (OTCQX: AAWH) said on Thursday that it has closed its previously announced private placement of $235 million of 12.75% senior secured notes due 2029. The company said in a press release the notes were issued at a price of 94.75% of face value. The notes - which mature on July 16, 2029 - are senior secured obligations of the company and bear interest at a rate of 12.75% per annum, payable semi-annually in arrears until their maturity date, unless earlier redeemed or repurchased by their terms.

Marijuana Giant Trulieve Boosts Cash Position With $25M Loan, Opens Cannabis Stores In Florida

Florida-based medical cannabis firm Trulieve Cannabis has secured $25m of gross proceeds from a five-year loan. The company will pay interest of 8.31% until the loan matures. The deal, arranged with First Federal bank, gives Trulieve greater flexibility, according to CEO Kim Rivers. She said the loan would boost the company's cash position as it gears up for growth opportunities. The company revealed the financing at the same time as the opening of two new medical dispensaries in Florida: one in Crawfordville and another in Crestview. Trulieve will stock products from in-house brands Modern Flower, Muse, Trekkers and many others. The dispensaries will also carry product from partner brands, including Alien Labs.