Marijuana MSO Ascend Wellness Borrows At Least $210 Million
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It will be used to repay “substantially all” of Ascend’s outstanding debt
New York-based marijuana multistate operator Ascend Wellness Holdings said it secured a loan of at least $210 million at a 9.5% per annum interest rate.
The senior secured debt will be used to repay “substantially all” of Ascend’s outstanding debt, except for roughly “$12 million of outstanding acquisition payments with near zero interest rates,” the company said in a Monday news release.
The money will also be used to finance Ascend’s pending investment in MedMen NY and “support (Ascend’s) future growth and acquisition initiatives.”
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