Cannabis multistate operator Ascend Wellness Holdings plans to issue $15 million in senior secured notes for such “general corporate purposes” as growth initiatives.
The notes, expected to be issued at 97% of face value, are part of a $235 million debt offering completed in July and carry an interest rate of 12.75%, according to a news release.
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The notes will mature on July 16, 2029.
Sam Brill, who was installed as Ascend’s CEO in August, said the New York-based MSO’s plan includes opening 20 new stores, which would increase its retail footprint by about 50%.
“Our strategy is clear,” he said in a statement.
“We are well positioned with the resources necessary to expand our presence in our core markets through our
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