---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-091718"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2025-06-30T23:59:59+00:00"
generated_at: "2026-05-18T14:14:40.741725+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# TerrAscend exits Michigan market; will sell 4 cultivation facilities, 20 dispensaries

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-091718
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2025-06-30T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017025091718/0000950170-25-091718-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017025091718/tsndf-20250627.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-091718
- JSON: https://secwatch.observer/filing/0000950170-25-091718.json
- Plain text: https://secwatch.observer/filing/0000950170-25-091718.txt

## Key facts
- Restructurings & Charges
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000095017025091718/0000950170-25-091718-index.htm

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