TerrAscend Corp (TSND) just unveiled an update.
TerrAscend Corp. has secured a $140 million senior-secured term loan to bolster its financial position and streamline its debt profile. The loan, which matures in 2028, carries an interest rate of 12.75% and imposes certain restrictions on the company’s financial activities, such as limiting additional debt and asset sales. Importantly, this strategic move will allow TerrAscend to retire existing loans, enhancing its capital structure and providing resources for corporate growth. Notably, a portion of the investment comes from funds associated with the company’s Executive Chairman, Jason Wild.
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