TerrAscend Gets CA$31.5M Investment Via Early Warrant Exercise

Terrascend Corp TERTRSSF said that JW Asset Management exercised early its warrants to acquire voting shares of the company.

In total, JW Asset Management exercised warrants to acquire around 28.64 million shares of Terrascend for aggregate proceeds of CA$31.5 million ($23.78 million in U.S. dollars). The warrants entitled the holder to acquire shares on or before Dec. 8, 2020 at an exercise price of CA$1.10 apiece.

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

Terrascend plans to use the proceeds from the Warrant exercise to fund its growth initiatives. Earlier this month, the company announced signing an agreement to acquire Ilera Healthcare, Pennsylvania-based vertically-integrated cannabis company. The value of the deal is estimated between $125 and $225 million in cash and stock.

The company was also selected as one of the six permit applicants for a vertically-integrated medical cannabis operation in New Jersey.

In addition, Terrascend issued warrant holders additional purchase warrants under an incentive program. The incentive warrants allow holders to buy 8.59 million Terrascend shares at an exercise price of CA$7.21 on or before Aug. 23.

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsFinancingMarketsCannabis InvestmentJW Asset ManagementTerrAscend Corp
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!
CCC-Oct-24-Banner-1

Click on the image for more info.

Cannabis rescheduling seems to be right around the corner

Want to understand what this means for the future of the industry?

Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. 

Get your tickets now before prices surge by following this link.