Ascend Wellness closes $28.5M incremental term loan, total debt $275M

Ascend Wellness Holdings, Inc.

Debt bears 9.5% fixed interest, matures August 27, 2025; no scheduled amortization.
Issued ~3.1M warrants exercisable at $3.10/share; up to 645k more at lender option.
Proceeds for working capital, acquisitions, capex, and other corporate purposes.
Financial covenants: liquidity ≥$20M, EBITDA/interest coverage ≥2.50x from Q2 2022.

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