CCC - Ascend Wellness Cannabis Co. Closes $235M Private Placement Of Senior Secured Notes Refinances Existing Term Loan | Benzinga
New York-headquartered cannabis company Ascend Wellness Holdings, Inc. (CSE:AAWH) (OTCQX:AAWH) said on Thursday that it has closed its previously announced private placement of $235 million of 12.75% senior secured notes due 2029.
What Happened
The company said in a press release the notes were issued at a price of 94.75% of face value.
The notes, which mature on July 16, 2029, are senior secured obligations of the company and bear interest at a rate of 12.75% per annum, payable semi-annually in arrears until their maturity date, unless earlier redeemed or repurchased by their terms.
Seaport Global Securities LLC acted as the lead financial advisor and sole placement agent for the Notes.