Ascend Wellness Holdings, Inc. (CSE:AAWH) (OTCQX:AAWH) has closed on $28.5 million of the remaining additional funding under the accordion feature of its existing term loan credit facility. The company drew initial funding of $210 million in August 2021 and subsequently closed on a $36.5 million expansion in May 2022. This additional raise brings the total raised under the senior credit facility to $275 million.
"We are thrilled to secure the final $28.5 million of funding under this loan agreement," stated Dan Neville, CFO of AWH. "The proceeds from this loan, together with our existing strong balance sheet, will support our near-term CapEx investments and acquisitions as we scale our footprint. I'd like to thank our lenders for the continued support and look forward to continuing to execute our growth strategy focused on some of the most exciting markets in the Midwest and Northeast."
