TerrAscend Completes $33.5M Non-Brokered Private Placement

TerrAscend Corp. TER TRSSF announced Monday that it has finalized a non-brokered private placement with orders reaching a total of around $33.5 million, including the first tranche of the private placement that was completed Dec. 30. 

Company chairman Jason Wild, executive chairman Jason Ackerman and each of the directors were engaged in the private placement, according to TerrAscend. 

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

For the Jan. 10 closing of the second tranche of the private placement, TerrAscend said it issued 3.45 million units with a price of CA$2.45 ($1.88) each for proceeds of CA$8.45 million.

Each unit consists of one company share and one common share purchase warrant, with each warrant usable to purchase one common share before Jan. 14, 2022 at a price of CA$3.25 per warrant share.

TerrAscend said it plans to utilize the proceeds to push for the finalization of its New Jersey cultivation and processing facilities and to complete a January 2020 purchase price payment in relation to the purchase of Ilera Healthcare.

TerrAscend’s shares closed Friday’s market session 13.04% higher at $2.10 per share.

Related Links:

TerrAscend Trades Down After Announcing Q3 Results

Cannabis 2.0: The Companies Entering Canada's New Edible, Concentrate, Topical Market

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsFinancingOfferingsMarketsIlera Healthcare
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.