TerrAscend completes $79M non-dilutive debt financing

TerrAscend (TSNDF) announced that the Company, together with certain entities that are consolidated by the Company, has closed on an upsize to its senior secured syndicated term loan of $79M, $68M of which were used to retire existing indebtedness across other lenders, with the remainder designated for future growth initiatives. As part of the Transaction, an additional uncommitted term loan facility in an aggregate principal amount of up to $35M will be available for future mergers and acquisitions. The Loan, led by FocusGrowth Asset Management, carries an interest rate of 12.75%, and matures in August 2028. It contains no prepayment penalties, and is guaranteed by the Company. No warrants were issued as part of the Loan.