--- title: Cannabis Company TerrAscend Secures Second And Final $26M Loan, Reduces Debt In Michigan description: TerrAscend secures final $26M loan, reducing high-interest debt and strengthening its financial position in Michigan through a $140M senior secured term loan. image: https://420intel.com/hubfs/AdobeStock_371005338.jpg --- [![420intel.com](https://420intel.com/hs-fs/hubfs/Asset%2016-1.png?width=300&height=162&name=Asset%2016-1.png "420intel.com")](https://420intel.com) - [Home](https://420intel.com) - [Advertise](https://420intel.com/advertise) - [Directory](https://420intel.com/directory) - [Topics](https://420intel.com/blog) - [Recreational News](https://420intel.com/blog/tag/recreational-cannabis-news) - [Business News](https://420intel.com/tag/cannabis-business-news) - [Politics](https://420intel.com/tag/cannabis-politics) - [Technology](https://420intel.com/tag/cannabis-technology-news) - [Research](https://420intel.com/tag/medical-cannabis-news) - [Contact](https://420intel.com/contact-us) - [Follow us on Facebook](https://www.facebook.com/420intel) - [Follow us on LinkedIn](https://www.linkedin.com/company/420-intel/) - [Follow us on Twitter](https://x.com/420intel) - [Follow us on Instagram](https://www.instagram.com/420intel) ### Press ESC to close [![420intel.com](https://420intel.com/hs-fs/hubfs/Asset%2016-1.png?width=300&height=162&name=Asset%2016-1.png "420intel.com")](https://420intel.com) - [Home](https://420intel.com) - [Advertise](https://420intel.com/advertise) - [Directory](https://420intel.com/directory) - [Topics](https://420intel.com/blog) - [Recreational News](https://420intel.com/blog/tag/recreational-cannabis-news) - [Business News](https://420intel.com/tag/cannabis-business-news) - [Politics](https://420intel.com/tag/cannabis-politics) - [Technology](https://420intel.com/tag/cannabis-technology-news) - [Research](https://420intel.com/tag/medical-cannabis-news) - [Contact](https://420intel.com/contact-us) - [Follow us on Facebook](https://www.facebook.com/420intel) - [Follow us on LinkedIn](https://www.linkedin.com/company/420-intel/) - [Follow us on Twitter](https://x.com/420intel) - [Follow us on Instagram](https://www.instagram.com/420intel) # Cannabis Company TerrAscend Secures Second And Final $26M Loan, Reduces Debt In Michigan - [![Buzz](https://420intel.com/hs-fs/hubfs/Buzz-No%20Outline-2.png?width=80&height=80&name=Buzz-No%20Outline-2.png) Buzz](https://420intel.com/blog/author/buzz) - [Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news) - 2 October 2024 ## TerrAscend Corp. cannabis company announced that it has completed the second and final draw of $26 million as part of its $140 million senior secured term loan. The loan, managed by FocusGrowth Asset Management, LP, was initially announced in August 2024. The new funds were used to pay down higher-interest debt in Michigan, helping the company strengthen its financial position. Earlier this year, **Jason Wild,** executive chairman of TerrAscend said that by closing this financing, the company has “no other material debt maturing until late 2027” ### **Key Financial Details** The loan, which carries a 12.75% interest rate and matures in August 2028, had no prepayment penalties. TerrAscend initially received $114 million from the same loan in August, bringing the total to $140 million. The loan is backed by TerrAscend's assets in Pennsylvania, California, Michigan and certain entities in Maryland. ### **What This Means For TerrAscend** The funds will assist in the reduction of high-interest debt, especially in Michigan, where TerrAscend continues to expand its presence. It carries an interest rate of 12.75%, up until August 2028, contains no prepayment penalties, and is guaranteed by the Company and TerrAscend USA, Inc. No warrants were issued as part of the Loan. ### **TSNDF Price Action** TerrAscend’s shares traded 3.82% lower at $1.26 per share at the time of writing on Tuesday evening.   [by Rolando Garcia](https://www.benzinga.com/markets/cannabis/24/10/41130165/cannabis-company-terrascend-secures-second-and-final-26m-loan-reduces-debt-in-michigan) [Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news) ![Buzz](https://420intel.com/hs-fs/hubfs/Buzz-No%20Outline-2.png?width=200&height=200&name=Buzz-No%20Outline-2.png) #### [Buzz](https://420intel.com/blog/author/buzz) At 420 Intel, we cover cannabis legalization news throughout the world, offer reliable information for cannabis business owners, detail technological advances that impact the marijuana industry, cover marijuana rallies from across the globe, and everything in between. - - - [Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news) [![Cannabis Co. 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[Cannabis Laws](https://420intel.com/blog/tag/cannabis-laws) [![Siskiyou Sheriff Challenges State on Cannabis Help](https://420intel.com/hs-fs/hubfs/AI-Generated%20Media/Images/The%20image%20showcases%20a%20rugged%20landscape%20of%20Siskiyou%20County%20California%20under%20a%20bright%20blue%20sky%20dotted%20with%20a%20few%20fluffy%20white%20clouds%20In%20the%20foreground%20a%20sheriffs%20vehicle%20is%20parked%20on%20the%20side%20of%20a%20dirt%20road%20its%20lights%20flashing%20red%20and%20blue%20casting%20a%20st.jpeg?width=550&height=395&name=The%20image%20showcases%20a%20rugged%20landscape%20of%20Siskiyou%20County%20California%20under%20a%20bright%20blue%20sky%20dotted%20with%20a%20few%20fluffy%20white%20clouds%20In%20the%20foreground%20a%20sheriffs%20vehicle%20is%20parked%20on%20the%20side%20of%20a%20dirt%20road%20its%20lights%20flashing%20red%20and%20blue%20casting%20a%20st.jpeg)](https://420intel.com/blog/siskiyou-sheriff-challenges-state-on-cannabis-help) - [![Buzz](https://420intel.com/hs-fs/hubfs/Buzz-No%20Outline-2.png?width=80&height=80&name=Buzz-No%20Outline-2.png) Buzz](https://420intel.com/blog/author/buzz) - 8 May 2025 #### [Siskiyou Sheriff Challenges State on Cannabis Help](https://420intel.com/blog/siskiyou-sheriff-challenges-state-on-cannabis-help) SISKIYOU COUNTY, Calif. — Siskiyou County Sheriff LaRue has expressed frustration over what he... [Cannabis Business News](https://420intel.com/blog/tag/cannabis-business-news) [![Tilray CEO Irwin Simon: 2024 Election Likely To Drive U.S. Cannabis Legalization, No Matter Who Wins](https://420intel.com/hs-fs/hubfs/AdobeStock_810775987.jpg?width=550&height=395&name=AdobeStock_810775987.jpg)](https://420intel.com/blog/tilray-ceo-irwin-simon-2024-election-likely-to-drive-u.s.-cannabis-legalization-no-matter-who-wins) - [![Buzz](https://420intel.com/hs-fs/hubfs/Buzz-No%20Outline-2.png?width=80&height=80&name=Buzz-No%20Outline-2.png) Buzz](https://420intel.com/blog/author/buzz) - 11 October 2024 #### [Tilray CEO Irwin Simon: 2024 Election Likely To Drive U.S. Cannabis Legalization, No Matter Who Wins](https://420intel.com/blog/tilray-ceo-irwin-simon-2024-election-likely-to-drive-u.s.-cannabis-legalization-no-matter-who-wins) ## Tilray CEO Irwin Simon predicts that the 2024 U.S. presidential election could lead to regulatory... - [Follow us on Facebook](https://www.facebook.com/420intel) - [Follow us on LinkedIn](https://www.linkedin.com/420intel) - [Follow us on Twitter](https://twitter.com/420intel) - [Follow us on Instagram](https://www.instagram.com/420intel) Back to Top ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Buzz", "url" : "https://420intel.com/blog/author/buzz" }, "dateModified" : "2024-10-15T17:20:07.735Z", "datePublished" : "2024-10-02T04:30:00.000Z", "headline" : "Cannabis Company TerrAscend Secures Second And Final $26M Loan, Reduces Debt In Michigan", "image" : [ "https://420intel.com/hubfs/AdobeStock_371005338.jpg" ], "mainEntityOfPage" : { "@id" : "https://420intel.com/blog/cannabis-company-terrascend-secures-second-and-final-26m-loan-reduces-debt-in-michigan", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://420intel.com/hubfs/Asset%2016.png" }, "name" : "420 Intel" } } ```