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TerrAscend Announces Oversubscribed C$224 Million Non-Brokered Private Placement
TerrAscend Announces Oversubscribed C$224 Million Non-Brokered Private Placement ...
About this update from Terrascend Corp.
[{"type":"text","content":"\n \n \n \n TerrAscend Announces Oversubscribed C$224 Million Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n Fully allocated with 80% of commitments from four large U.S. Institutional Investors including Wasatch Global\n \n \n \n \n NEW YORK\n \n and\n \n TORONTO\n \n ,\n \n Jan. 12, 2021\n \n /CNW/ - TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (CSE:TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced an over subscribed, non-brokered private placement for gross proceeds of approximately\n \n C$224 million\n \n (\"the \"Offering\") with 80% of commitments from four large U.S. institutional investors including Wasatch Global. The Offering consists of 18,115,623 common shares in the capital of the Company (the \"Common Shares\") issued at the price of\n \n C$12.35\n \n per Common Share.\n \n \n \"TerrAscend is strategically building depth and scale in some of the largest and highest growth markets in the U.S. cannabis industry,\" said\n \n Jason Ackerman\n \n , CEO and Executive Chairman of TerrAscend. \"This financing further solidifies an already strong balance sheet providing the company with ample cash to both accelerate existing expansion plans and simultaneously pursue M&A transactions in additional limited license states.\"\n \n \n The Company engaged ATB Capital Markets Inc. to advise on the Offering. Subject to customary closing conditions, including applicable CSE approvals, the Offering is expected to close on or about\n \n January 26, 2021\n \n .\n \n \n \n The securities to be issued pursuant to the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"1933 Act\"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within\n \n the United States\n \n absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation...