Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) confirmed Friday that it has completed the second tranche of its previously announced private placement of 8% senior secured notes due 2026 for total gross proceeds of $75 million. Combined with the first offering of notes, which closed on October 6, 2021, Trulieve has issued notes totaling aggregate gross proceeds of $425.0 million.
The notes have the same terms as those initially issued.
"Trulieve's strong financial profile and profitable track record afford us access to non-dilutive growth capital at industry-leading terms for U.S. cannabis companies with multi-state operations," Trulieve CEO Kim Rivers stated. "This additional funding provides greater flexibility as we execute on our strategic initiatives in 2022."
The company plans to use the net proceeds of the offering for capital expenditures and other general corporate purposes
Canaccord Genuity Corp. acted as sole agent and sole bookrunner in connection with the Offering.
More recent news from Trulieve:
Trulieve Teams Up With Miami Mango To Bring Its Marijuana To South Florida Market
Trulieve Files Resale Registration With SEC For Subordinate Voting Shares Of 2021 Acquisitions
Trulieve To Exclusively Produce And Sell Connected Cannabis Products Across Florida
Trulieve Launches Cannabis Concentrates, Live Diamonds, Latest Hydrocarbon Extraction Product
Price Action
Trulieve shares were trading 0.29% lower at $18.96 per share at the time of writing Friday.
Photo: Courtesy of Daniel Norin on Unsplash
