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TerrAscend Closes Non-Brokered Private Placement Of $93M

Andrew Ward

Cannabis cultivator TerrAscend Corp. (CSE:TER)(OTC: TRSSFreported the completion of its previously announced non-brokered private placement. Orders totaled an approximate CA$69 million (about $93 million USD).

TerrAscend had issued a total of 9,026,034 common shares at a previously price previously announced at $7.64.

All of the company's leadership team took part in the offering. This included a lead order of $18.4 million from JW Asset Management, LLC and other affiliated parties.

What’s Next

TerrAscend now plans to use the raised funds to fuel its M&A activity in the United States. Other funds will be allocated towards working capital and other corporate purposes.

The company will pay a cash finder’s fee on subscriptions for specific finders.

TerrAscend's OTC stock traded around $5.79 per share at time of publication. Its Canada-listed stock traded around $7.76.

Related Links:

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