TerrAscend Corp. (TSNDF): restructuring charge — TerrAscend exits Michigan market; will sell 4 cultivation facilities, 20 dispensaries

TerrAscend Corp.

Net proceeds from asset sales to be used to pay down Company debt.
Workforce reduction of ~21% (approx. 250 employees) expected by end of Q3 2025.
Michigan operations will be reported as discontinued operations starting Q2 2025.
Post-exit, TerrAscend will operate 19 dispensaries and 4 facilities across 5 states and Toronto.
Company anticipates improved consolidated gross margin, adjusted EBITDA, and cash flow conversion.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

TerrAscend Corp. announced a restructuring affecting Michigan market (approximately 21% of the Company’s workforce of approximately 1,200).

Type: restructuring
Affected area: Michigan market
Headcount: approximately 21% of the Company’s workforce of approximately 1,200

Exact text from the filing

On June 27, 2025, the board of directors of TerrAscend Corp. (together with TerrAscend Corp.’s consolidated entities, the “Company”) approved certain restructuring actions related to the Company’s exit from the Michigan market, aimed at enabling the Company to focus on its operations in its more profitable markets.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

TerrAscend Corp. filing history →

Source: SEC EDGAR

accession 0000950170-25-091718

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