---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-019483"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2022-10-12T23:59:59+00:00"
generated_at: "2026-06-23T04:08:17.787921+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-22-019483
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2022-10-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017022019483/0000950170-22-019483-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017022019483/trssf-20221012.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-019483
- JSON: https://secwatch.observer/filing/0000950170-22-019483.json
- Plain text: https://secwatch.observer/filing/0000950170-22-019483.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.