Ascend Wellness adds $36.5 million of loans under Seaport facility

By Wendy Van Sickle

Columbus, Ohio, May 18 – Ascend Wellness Holdings, Inc. added $36.5 million of term loans via the increase option of its existing $210 million senior secured term loan with Seaport Global Securities LLC as lead manager, according to a press release.

The company entered the term loan agreement in August 2021 with an option to increase the facility by up to $65 million.

“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,” Dan Neville, chief financial officer of Ascend Wellness, said in the release.

Ascend Wellness is a vertically integrated cannabis multi-state operator based in New York.

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