TerrAscend closes final $26M tranche of $140M loan, repays higher-interest Michigan debt

TerrAscend Corp.

Completed second draw of $26M on Sept 30, 2024, bringing total loan to $140M.
Loan carries 12.75% interest, matures Aug 2028, no prepayment penalties, no warrants.
Proceeds used to repay and terminate the higher-interest Chicago Atlantic Term Loan in Michigan.
Loan syndicate led by FocusGrowth Asset Management; secured by entities in PA, CA, MI, and MD.
Ventum Capital Markets acted as exclusive financial advisor for the transaction.

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