secwatch.observer — SEC 8-K summary
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Issuer:     TerrAscend Corp. (TSNDF)
CIK:        0001778129
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0000950170-24-089627
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1778129/000095017024089627/0000950170-24-089627-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1778129/000095017024089627/tsndf-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-089627

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