[PRESS RELEASE] – NEW YORK, Jan. 14, 2025 – Ascend Wellness Holdings Inc., a multistate, vertically built-in hashish operator, is happy to announce it has closed its in the past introduced personal placement of $15 million of its 12.75% senior secured notes due 2029 (the “notes”).
The notes shape a part of the similar collection of the $235 million combination main quantity of the corporate’s 12.75% senior secured notes due 2029 issued on July 16, 2024. The notes have been issued at a worth of 97% of face price (the “providing”). The notes have been issued pursuant to and ruled via a agree with indenture entered into as of July 16, 2024, as amended and supplemented via a primary supplemental indenture dated as of Jan. 13, 2025. The corporate intends to make use of the web proceeds of the notes for basic company functions, together with to fund expansion projects.
Seaport World Securities LLC (the “agent”) acted as lead monetary adviser and sole placement agent for the notes.
The notes are senior secured duties of the corporate and undergo hobby at a price of 12.75% in line with annum, payable semi-annually in arrears till their adulthood date until previous redeemed or repurchased in response to their phrases.
The notes mature on July 16, 2029. At any time and every so often, the corporate might redeem all or part of the notes at sure specified redemption costs, together with till July 15, 2026, at par. The notes are irrevocably and unconditionally assured, collectively and severally, on a senior secured foundation, via sure of the corporate’s subsidiaries (the “promises”). The notes and the promises are secured, on a primary lien foundation, via considerably all property of the corporate and sure of its subsidiaries, matter to sure carveouts.
The notes have been presented on a non-public placement foundation in sure provinces and territories of Canada pursuant to acceptable exemptions from the prospectus necessities of Canadian securities rules. The notes have been additionally bought in the USA to or for the account or good thing about “U.S. individuals” (as outlined in the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)), on a non-public placement foundation to “certified institutional consumers” and “permitted traders” pursuant to an exemption from the registration necessities of the U.S. Securities Act, and in such jurisdictions out of doors of Canada and the USA as used to be agreed upon via the agent and the corporate, in each and every case in response to acceptable rules. The notes are matter to a normal four-month dangle duration below Canadian securities rules.
This information free up does now not represent an be offering to promote or a solicitation of an be offering to shop for any securities of the corporate in any jurisdiction wherein such be offering, solicitation or sale could be illegal.
