TerrAscend negotiates $45.48 million loan agreement with Pelorus Fund

By Devika Patel

Knoxville, Tenn., Oct. 12 – TerrAscend Corp. subsidiaries TerrAscend NJ LLC, HMS Processing LLC, HMS Hagerstown, LLC and HMS Health, LLC entered into a $45,478,000 single-draw senior secured term loan agreement with Pelorus Fund REIT, LLC on Oct. 11, according to an 8-K filed with the Securities and Exchange Commission.

The maturity date is Oct. 11, 2027. Interest accrues at a rate of one-month SOFR plus 950 basis points, subject to a 2.5% floor, and is payable monthly.

The loan is guaranteed by TerrAscend, TerrAscend USA Inc., Well and Good, Inc. and WBD Holding MD, Inc.

Proceeds may be applied towards the payment of construction work and general corporate purposes of TerrAscend and its subsidiaries.

Based in Toronto, TerrAscend provides products, brands and services to the cannabinoid market.

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