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TerrAscend Secures $140 Million Debt Financing from FocusGrowth Asset Management, LP
Aug 02, 2024•almost 2 years ago
Contract Type
partnership
King Of PrussiaOtherAgriculture and FarmingCannabisDescription
TerrAscend Corp. has announced the completion of a senior secured term loan for gross proceeds of US$140 million from FocusGrowth Asset Management, LP. The financing, with a coupon of 12.75% and a term of four years, will be used to retire existing debts and potentially fund M&A transactions focused on geographic expansion.
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Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months