Ascend Wellness Holdings Signs Definitive Agreements to Issue $235 Million of Senior Secured Notes

~ Secures funding with 12.75% coupon and a 5-year term ~
~ Net Proceeds to refinance existing Term Loan ~

NEW YORK, July 15, 2024 /PRNewswire/ – Ascend Wellness Holdings, Inc. (“AWH,” “Ascend” or the “Company”) (CSE: AAWH-U.CN) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator, is pleased to announce it has received commitments for a private placement of $235 million of its 12.75% Senior Secured Notes due 2029 (the “Notes”). The Notes are expected to be issued at a price of 94.75% of face value (the “Offering”). The Company intends to use the net proceeds of the Notes, together with cash on hand, to prepay $215 million of principal amounts outstanding under its existing term loan (the “Term Loan”). The partial refinancing of the Term Loan through the issuance of new senior secured notes is a strategic move expected to enhance the Company’s financial flexibility and strengthen its balance sheet. The Offering is expected to close on or about July 16, 2024, subject to customary closing conditions.

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