Ascend Wellness Closes $210M Senior Secured Term Loan With Seaport Global Securities

Vertically integrated company Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) announced Monday it has closed on a $210 million Senior Secured Term Loan with Seaport Global Securities LLC as lead manager.

The multi-state operator plans to use the proceeds to (i) repay substantially all of the company's debt excluding approximately $12 million of outstanding acquisition payments with near-zero interest rates, (ii) finance the company's pending investment in MedMen NY, Inc. and (iii) support the company's future growth and acquisition initiatives.

Prior to closing the Term Loan, on June 30, 2021, the company had $104.2 million in cash and equivalents.

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