secwatch.observer — SEC 8-K summary
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Issuer:     TerrAscend Corp. (TSNDF)
CIK:        0001778129
Form:       8-K
Filed at:   2022-10-12T23:59:59+00:00
Accession:  0000950170-22-019483
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1778129/000095017022019483/0000950170-22-019483-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1778129/000095017022019483/trssf-20221012.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-019483

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