Ascend Wellness Holdings Inc. Closes $50 Million Private Placement
Ascend Wellness Holdings Inc., a publicly traded company on the OTC Bulletin Board, has successfully closed a $50 million private placement of its 12.75% Senior Secured Notes due in 2029. This transaction was announced on May 28, 2025, by multiple sources including Newswire.ca, CEO.ca, and OTCMarkets.com.
The company, which operates as a multi-state, vertically integrated cannabis operator, has issued these notes as part of a larger series totaling $250 million in aggregate principal amount. Previously, $235 million of these notes were issued on July 16, 2024, and an additional $15 million was issued on January 13, 2025. The latest issuance was priced at 97.5% of face value, under a trust indenture established on July 16, 2024, and subsequently amended by a first supplemental indenture on January 13, 2025.
The net proceeds from this private placement, along with existing cash reserves, are earmarked for the prepayment of the total principal amounts outstanding under Ascend Wellness Holdings’ existing term loan. This includes accrued interest and other transaction-related expenses.
As of May 22, 2025, Ascend Wellness Holdings Inc. had a close price of $0.298, with a 52-week high of $1.233 on August 18, 2024, and a 52-week low of $0.265 on April 14, 2025. The company’s market capitalization stands at $63,380,000 USD, and it currently reports a negative price-to-earnings ratio of -0.737626.
This strategic financial move is expected to strengthen the company’s balance sheet and provide greater financial flexibility as it continues to expand its operations in the cannabis industry.