Turning Point Brands issues $300M 7.625% Senior Secured Notes due 2032 to refinance 2026 Notes

Turning Point Brands, Inc.

$300M aggregate principal of 7.625% Senior Secured Notes due March 15, 2032 issued Feb 19, 2025.
Proceeds used to redeem all $250M outstanding 2026 Notes at ~$250.2M (principal plus accrued), plus fees and general corporate purposes.
Notes secured by first-priority liens on substantially all assets of TPB and guarantors; interest payable semi-annually.
Redemption of 2026 Notes conditioned on debt financing proceeds; redemption date set for Feb 20, 2025.
Covenants restrict liens, additional debt, asset sales, dividends, and affiliate transactions.

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