Cannabis Company TerrAscend Secures Second And Final $26M Loan, Reduces Debt In Michigan
Portfolio Pulse from Rolando García
TerrAscend Corp. (OTC:TSNDF) has completed a $26 million loan draw, finalizing its $140 million senior secured term loan. The funds are used to reduce high-interest debt in Michigan, improving the company's financial position. The loan matures in August 2028 with a 12.75% interest rate and no prepayment penalties.
October 01, 2024 | 9:02 pm
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TerrAscend has secured a $26M loan, completing its $140M financing to reduce high-interest debt in Michigan. This strengthens its financial position with no major debt maturing until 2027.
The completion of the $140M loan allows TerrAscend to pay down high-interest debt, particularly in Michigan, which is a positive financial move. The absence of major debt maturing until 2027 provides financial stability, likely leading to a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100