Trulieve Cannabis Corp. (TCNNF): debt financing — Trulieve closes $140M private placement of 10.5% senior secured notes due 2030

Trulieve Cannabis Corp.

$140M aggregate principal of 10.5% senior secured notes due Dec 17, 2030 closed; size increased due to demand.
Notes issued at 100% of face value, interest payable semi-annually starting June 17, 2026.
Net proceeds to be used for capital expenditures and general corporate purposes.
Notes secured by pledge of shares of Trulieve US; rank senior to unsecured indebtedness.
Optional redemption from Dec 2027 at 104% of principal stepping down to 100% by Dec 2029.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Trulieve Cannabis Corp. incurred senior notes of $140,000,000 aggregate principal amount with Odyssey Trust Company at 10.5% maturing December 17, 2030.

Instrument: senior notes
Principal: $140,000,000 aggregate principal amount
Counterparty: Odyssey Trust Company
Rate: 10.5%
Maturity: December 17, 2030
Event: incurrence

Exact text from the filing

On December 17, 2025, Trulieve Cannabis Corp. (the “Company”) issued $140,000,000 aggregate principal amount of its 10.5% senior secured notes due December 17, 2030 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Trulieve Cannabis Corp. entered into Indenture with Odyssey Trust Company valued at $140,000,000 aggregate principal amount (effective 2025-12-17).

Action: entry
Agreement: notes offering
Counterparty: Odyssey Trust Company
Value: $140,000,000 aggregate principal amount
Effective: 2025-12-17

Exact text from the filing

On December 17, 2025, Trulieve Cannabis Corp. (the “Company”) issued $140,000,000 aggregate principal amount of its 10.5% senior secured notes due December 17, 2030 (the “Notes”). The Notes were issued under an indenture dated as of June 18, 2019, as supplemented by a second supplemental indenture dated as of December 17, 2025 (the “Indenture”) by and among the Company and Odyssey Trust Company, as trustee (the “Trustee”).

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Trulieve Cannabis Corp. filing history →

Source: SEC EDGAR

accession 0001754195-25-000074

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