Ascend Wellness Holdings, Inc. announced on January 14, 2025, the closing of a private placement of $15 million of its 12.75% Senior Secured Notes due 2029. These notes were issued at a price of 97.00% of face value.
The newly issued notes are part of the same series as the $235 million aggregate principal amount of 12.75% senior secured notes issued on July 16, 2024. The notes mature on July 16, 2029, and bear interest semi-annually.
The company intends to use the net proceeds from this offering for general corporate purposes, including funding growth initiatives. This capital infusion is expected to support Ascend's strategic plans for expansion and operational enhancements.
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