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Ascend Wellness Holdings, Inc., a multistate, vertically integrated cannabis operator, secured commitments for a private placement of USD 235 million of 12.75 percent senior secured notes due July 16, 2029. The notes were priced at 94.75 percent of face value, and proceeds—along with cash on hand—were used to prepay USD 215 million of the Company’s outstanding term loan. The financing strengthens Ascend’s liquidity, extends debt maturity, and enhances its balance sheet by locking in a favorable interest rate and securing long-term capital.
Parties
Company
Ascend Wellness Holdings, Inc.
Company
Seaport Global Securities LLC
Deal Type
Financing/InvestmentIndustry
OtherTransaction
$ 315,000,000Deal Status
ClosedClosing Date
16 July 2024