---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-030768"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2023-06-29T23:59:59+00:00"
generated_at: "2026-06-13T14:59:10.946825+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# TerrAscend closes $16M initial tranche of private placement, upsized to $20M

## Summary
- First tranche: 4,071,577 units at $1.50/unit ($6.1M equity) and 9,905 debentures at $1,000 each ($9.9M debt).
- Debentures carry 9.9% annual interest, convertible at $2.01/share, maturity 36 months from issuance.
- Proceeds earmarked for TSX listing qualification, Maryland dispensary acquisitions, and working capital.
- Insider participation: directors acquired $2.04M in securities; exemptions from valuation and minority approval.
- Second tranche expected June 28, raising total offering to US $20 million.

## SEC filing metadata
- accession: 0000950170-23-030768
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2023-06-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017023030768/0000950170-23-030768-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017023030768/trssf-20230623.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-030768
- JSON: https://secwatch.observer/filing/0000950170-23-030768.json
- Plain text: https://secwatch.observer/filing/0000950170-23-030768.txt

## Key facts
- Debt Financings
  TerrAscend Corp. incurred convertible notes of aggregate gross proceeds of approximately US$9.9 million with certain accredited investors at 9.9% per annum maturing 36 months from date of issuance.
  - Instrument: convertible notes
  - Principal: aggregate gross proceeds of approximately US$9.9 million
  - Counterparty: certain accredited investors
  - Rate: 9.9% per annum
  - Maturity: 36 months from date of issuance
  - Event: incurrence
  source text: (ii) 9,905 senior unsecured convertible debentures (the “Debentures”) of the Company (the “Debenture Offering”) at a price of US$1,000 per Debenture, for aggregate gross proceeds of approximately US$9.9 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000095017023030768/0000950170-23-030768-index.htm
- Material Agreements
  TerrAscend Corp. entered into Subscription Agreements for Units and Subscription Agreement for Convertible Debentures with certain accredited investors valued at US$16,000,000 (effective 2023-06-23).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain accredited investors
  - Value: US$16,000,000
  - Effective: 2023-06-23
  source text: On June 23, 2023, TerrAscend Corp. (the “Company”) closed concurrent private placement offerings (the “Private Placements”) pursuant to the terms and conditions of those certain Subscription Agreements for Units (the “Equity Subscription Agreements”) and that certain Subscription Agreement for Convertible Debentures (the “Debenture Subscription Agreement”), each dated as of June 23, 2023, by and between the Company and certain accredited investors (the “Investors”) for total gross proceeds of approximately US$16 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000095017023030768/0000950170-23-030768-index.htm

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