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Vuk Zdinjak

Ascend Wellness Secures $36.5M In Additional Funding, Will Expand PA Assets And Acquisition Of MedMen NY

Ascend Wellness MedMen AWH NY

Ascend Wellness Holdings, Inc. (OTCQX:AAWH) (CSE:AAWH) has closed on $36.5 million of additional funding under the increase option of its existing term loan credit facility. In August 2021, the company announced it had closed on a $210 million senior secured term loan credit facility with Seaport Global Securities LLC as lead manager.

"We appreciate the support from our lenders and are pleased to secure $36.5 million of additional financing. This financing will support our investments in near-term growth initiatives including the expansion of our Pennsylvania assets and acquisition of MedMen NY. We continue to explore all financing options including additional capacity under the term loan increase option," stated Dan Neville, CFO of AWH.

Photo: Courtesy of Mackenzie Marco on Unsplash

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