TerrAscend enters $45.5M senior secured loan with Pelorus Fund; 9.5%+SOFR, 2027 maturity

TerrAscend Corp.

Principal $45,478,000; maturity Oct 11, 2027; interest at one-month SOFR (floor 2.5%) plus 9.5%, paid monthly.
Loan secured by real property in Boonton, NJ, Phillipsburg, NJ and Hagerstown, MD; guaranteed by TerrAscend and subsidiaries.
Covenant: debt service coverage ratio of 1.75:1.00; failure triggers cash sweep, not an event of default.
Separate $25M promissory note to minority members if loan accelerated; if unpaid after 90 days, up to 16.4M shares may be issued.

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