Ascend Wellness Holdings, Inc. announced on May 28, 2025, the closing of a private placement of $50 million of its 12.75% Senior Secured Notes due 2029. These notes were issued at a price of 97.5% of face value.
The proceeds from this offering, combined with cash on hand, are intended to prepay the total principal amounts outstanding under the company's existing term loan, along with accrued interest and other transaction-related expenses. This refinancing was part of Ascend's long-term strategic plan.
CEO Sam Brill stated that the strong demand and support from lenders for this refinancing underscore the long-term value of the business. This move strengthens the company's balance sheet and positions it to execute its densification strategy and deliver value to stakeholders.
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