Small- & MicroCap Investment
by Eva-Maria Reuter
Corporate announcement for the capital market
Small- & MicroCap Investment: TerrAscend secures 140 million USD for growth and debt reduction
Frankfurt (pta000/11.08.2024/11:00 UTC+2)
On August 2, 2024, TerrAscend (ISIN: CA88105E1088) announced that the North American company had closed a secured term loan of $140 million. The loan was provided by FocusGrowth Asset Management, a leading capital provider in the cannabis sector, and other members of a loan syndicate.
The credit facility includes an initial drawing of $114 million by certain of the Company’s Consolidated Entities in Pennsylvania, Maryland and California. A second drawing of $26 million is expected in September 2024 by the Company’s Consolidated Entities in Michigan.
Important details about the loan:
Interest rate: 12.75%
Due date: August 2028
No early repayment penalties
Guaranteed by the Company and TerrAscend USA, Inc.
No warrants issued as part of the loan
The funds from the first draw will be used to pay down existing debt in Pennsylvania, while the second draw will be used to reduce debt in Michigan. Jason Wild, Executive Chairman of TerrAscend, emphasized that this financing strengthens the balance sheet and provides financial flexibility for future growth. The completion of this non-dilutive financing, according to Jason Wild, strengthens the balance sheet and financial flexibility to continue TerrAscend’s growth strategy. After the completion of this financing, the company will have no further material debt until the end of 2027.
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TerrAscend
ISIN: CA88105E1088
Country: Canada
Disclaimer/Risk notice
Conflicts of interest: A paid IR and PR contract exists with TerrAscend. The content of the services is, among other things, to increase the company’s level of awareness. Dr. Reuter Investor Relations is therefore acting in the interest of TerrAscend when creating and distributing the article. It is an editorial promotional presentation. Shares in TerrAscend may be owned by employees or authors of Dr. Reuter Investor Relations – taking into account the rules of the Market Abuse Regulation (MAR).
Corporate risks: As with any company, there are risks related to the implementation of the business model. There is no guarantee that the business model can be implemented as planned. Further business risks of TerrAscend can be found on the page: be taken.
Investment risks: Investments should only be made with funds that are freely available and not needed to secure a living. There is no guarantee that it will be possible to sell shares on the stock exchange at any time. Shares are always subject to the risk of total loss.
Disclaimer: All information published in this newsletter/article is based on careful research. The information does not constitute an offer to sell the stock(s) discussed, nor a solicitation to buy or sell securities. The statements are based on sources that the publisher considers trustworthy.
Sources: In particular, information available on the company website is taken into account for the presentation and assessment of the companies. As a rule, there is also direct contact with the management board/IR team of the respective company being analyzed or presented. The article was submitted to TerrAscend before publication in order to have the accuracy of all information checked.
Forward-looking statements
This communication contains certain forward-looking statements, including statements about the Company. Wherever possible, words such as “may,” “will,” “should,” “could,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict” or “potential” or the negative or other variations of these words or similar words or phrases have been used to identify these forward-looking statements. These statements reflect the current views of the author and are based on information available to the author as of the date of this report.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied by the forward-looking statements. These factors should be carefully considered and the reader should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based on assumptions that the author believes to be reasonable, readers cannot be assured that actual results will be consistent with these forward-looking statements. Dr. Reuter Investor Relations undertakes no obligation to update or revise these statements to reflect new events or circumstances, except as required by law.
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About Dr. Reuter Investor Relations: Dr. Reuter Investor Relations is an investor relations agency with the following range of services: Small Cap Investor Relations, Retail Investor Relations, Private Shareholders, Institutional Investor Relations, Financial Public Relations, ESG Services, Roadshows, Investor Access, Capital Markets Compliance, Equity Research.
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