On August 1, 2024, TerrAscend Corp closed a US$140 million senior secured term loan from funds managed by FocusGrowth Asset Management, LP. The loan includes an initial draw of US$114 million in gross proceeds and a second draw of US$26 million in gross proceeds in September 2024. Interest under the term loan accrues at a rate of 12.75% and the loan matures in August 2028.
Cassels acted as Canadian counsel to TerrAscend.