TerrAscend closes $140M senior-secured loan at 12.75%; retires PA and MI debt

TerrAscend Corp.

Four-year term loan with initial draw of $114M and delayed draw of $26M expected Sept 2024.
Proceeds used to retire Ilera Term Loan, Stearns Bank loan, and other indebtedness; Michigan loan to follow.
Loan carries 12.75% interest, matures August 2028, no prepayment penalties, no warrants issued.
Executive Chairman Jason Wild participated with ~$7.5M investment as part of the loan syndicate.
No other material debt maturing until late 2027; remainder available for M&A and geographic expansion.

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