AWH Closes $9.3 Million Mortgage Financing on Three Ohio Properties
Rhea-AI Summary
Ascend Wellness Holdings (OTCQX: AAWH) has secured a $9.345 million mortgage loan from CF Bank, using three Ohio properties as collateral. The financing, effective September 12, 2025, features an 8.5% annual interest rate and matures in September 2030.
The mortgaged properties are located in Cincinnati, Sandusky, and Piqua, Ohio. This non-dilutive financing strengthens AWH's balance sheet and supports their operations in Ohio's cannabis market. AWH operates across seven states, including Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania, with vertically integrated cannabis operations.
Positive
- Secured $9.345 million in non-dilutive financing at competitive 8.5% interest rate
- 5-year loan term provides long-term financial stability through 2030
- Strengthens balance sheet while maintaining existing shareholder equity
- Strategic expansion in Ohio market with three property locations
Negative
- Additional debt obligation could impact future borrowing capacity
- Properties are encumbered as collateral for the loan
News Market Reaction
On the day this news was published, AAWH declined 7.37%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
"This transaction strengthens AWH's balance sheet and demonstrates our ability to execute non-dilutive, low cost of capital financing transactions," said Sam Brill, Chief Executive Officer of AWH. "With this attractive financing in place, AWH is well-positioned to serve patients and local communities in
About Ascend Wellness Holdings, Inc.
AWH is a vertically integrated operator with assets in
Cautionary Note Regarding Forward-Looking Information
This news release includes forward-looking information and statements (together, "forward-looking statements"), which may include, but are not limited to, the plans, intentions, expectations, estimates, and beliefs of the Company. Words such as "expects", "continue", "may", "will", "anticipates", and "intends" or similar expressions are intended to identify forward-looking statements. Without limiting the generality of the preceding statement, all statements in this press release relating to estimated and projected revenue, expectations regarding production capacity, anticipated capital expenditures, expansion, profit, product demand, margins, costs, cash flows, sources of capital, growth rates, potential acquisitions, closing dates for transactions, regulatory approvals, future facility openings, and, enhancing shareholder value, reducing downward pressure on the stock, and future financial and operating results are forward-looking statements.
We caution investors that any such forward-looking statements are based on the Company's current projections and expectations about future events and financial trends, the receipt of all required regulatory approvals, and on certain assumptions and analysis made by the Company in light of the experience of the Company and perception of historical trends, current conditions, and expected future developments and other factors management believes are appropriate.
Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Such factors include, among others, the risks and uncertainties identified in the Company's most recently filed Annual Report on Form 10-K, as updated in subsequently filed Quarterly Reports on Form 10-Q, as applicable, and in the Company's other reports and filings with the applicable Canadian securities administrators on its profile on SEDAR+ at www.sedarplus.ca and the SEC on its profile on EDGAR at www.sec.gov. Although the Company believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking statements. Any forward-looking statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws. No securities regulator nor the Canadian Securities Exchange has reviewed, approved, or disapproved the content of this press release.
View original content:https://www.prnewswire.com/news-releases/awh-closes-9-3-million-mortgage-financing-on-three-ohio-properties-302570329.html
SOURCE Ascend Wellness Holdings, Inc.
FAQ
What is the value and interest rate of AWH's new mortgage financing?
Which properties are included in AWH's Ohio mortgage financing?
When does AWH's new Ohio mortgage loan mature?
How many states does Ascend Wellness Holdings operate in as of 2025?
What is the purpose of AWH's $9.3M mortgage financing?
