Ascend Wellness closes $235M 12.75% notes due 2029, refinances term loan

Ascend Wellness Holdings, Inc.

Issued $235M senior secured notes at 94.75% of face value, maturing July 16, 2029.
Net proceeds plus cash on hand used to prepay $215M of existing term loan.
Remaining $60M term loan at 9.5% rate can be repaid at par after Feb 27, 2025.
Notes bear 12.75% interest, semi-annual payments; first two years redeemable at par.
Seaport Global Securities acted as sole placement agent for the offering.

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