Welcome to our dedicated page for Ascend Wellness news (Ticker: AAWH), a resource for investors and traders seeking the latest updates and insights on Ascend Wellness stock.
Ascend Wellness Holdings (AAWH) is a vertically integrated cannabis operator with cultivation, manufacturing, and retail facilities across seven U.S. states. This page provides investors and industry stakeholders with timely updates on corporate developments, financial performance, and market positioning.
Access official press releases and third-party analysis covering earnings reports, regulatory compliance milestones, product launches, and strategic partnerships. Our curated collection simplifies tracking AAWH's growth in medical and adult-use cannabis markets while maintaining strict compliance with financial disclosure standards.
Key updates include expansion announcements, operational efficiency improvements, and leadership changes. All content is verified for accuracy and relevance to support informed analysis of this multi-state operator's market trajectory.
Bookmark this page for streamlined access to AAWH's evolving story in the competitive cannabis sector. Check regularly for new developments impacting the company's operational footprint and industry standing.
Ascend Wellness Holdings (AAWH) has secured $235 million in Senior Secured Notes with a 12.75% coupon and 5-year term. The company plans to use the net proceeds, along with cash on hand, to prepay $215 million of its existing term loan. This refinancing is expected to enhance AWH's financial flexibility and strengthen its balance sheet.
Key points:
- Notes to be issued at 94.75% of face value
- Maturity date: July 16, 2029
- Interest payable semi-annually
- Secured by substantially all assets of the company and certain subsidiaries
- $60 million remaining on existing term loan to be carried through at 9.5% interest
The offering is expected to close around July 16, 2024, subject to customary conditions.
Ascend Wellness Holdings (AWH) will hold a conference call on Monday, August 5, 2024, at 8:30 AM ET to discuss its second quarter 2024 financial results. The call can be accessed through a dial-in number or via a live webcast on the Investor Relations section of their website. The replay of the call will be available afterward. AWH is a leading multi-state, vertically integrated cannabis operator with operations in Illinois, Maryland, Massachusetts, Michigan, Ohio, New Jersey, and Pennsylvania. They produce and distribute a variety of in-house branded cannabis products.
Ascend Wellness Holdings (AAWH) announced the relocation of its Montclair dispensary to a new location in Wharton, New Jersey, set to open on June 28, 2024. This new facility spans approximately 3,000 square feet and features 13 sales terminals, six kiosks, two ATMs, and ample parking. The dispensary will serve both medical and adult-use cannabis customers, offering a wide range of products including flowers, vaporizers, concentrates, ingestibles, topicals, and accessories, along with a drive-thru service. The move aims to cater to the growing New Jersey market and enhance customer convenience. A grand opening celebration will be held on June 28, 2024, allowing attendees to explore the new store and meet the Ascend team.
Ascend Wellness Holdings (CSE: AAWH-U.CN, OTCQX: AAWH), a multi-state marijuana operator, has opened its fourth medical dispensary in Cranberry, Pennsylvania, marking its 37th location across seven states. This expansion highlights the company's commitment to the growing medical market in Pennsylvania. The Cranberry dispensary, located near I-76 and I-79, offers a variety of products including whole flower, vaporizers, concentrates, ingestibles, topicals, and accessories. The grand opening takes place on June 21, 2024. The dispensary spans 2,000 square feet within a 6,500 square foot building, featuring 11 terminals, four kiosks, and on-site ATMs for efficient service. Ascend also introduced the Ascenders Club loyalty program, rewarding patients for purchases and referrals. The dispensary is open seven days a week, with varying hours.
Ascend Wellness Holdings (AAWH), a multi-state cannabis operator, announced the appointment of Julie Francis to its Board of Directors, effective June 3, 2024. This expansion increases the board members from six to seven. Francis, recognized as an independent director by SEC and NYSE standards, brings extensive experience from her roles at Schwan's Company, Constellation Brands, and Coca-Cola Refreshments. Her appointment strengthens AWH's governance practices and aligns with its growth objectives. Executive Chair, Abner Kurtin, highlighted her expertise in the consumer goods sector as a valuable asset for the company.
Ascend Wellness Holdings, Inc. (AAWH) announced its participation in upcoming investor conferences, including the Needham Technology, Media, & Consumer Conference on May 16, 2024, Canaccord Genuity's Global Cannabis Conference on May 23, 2024, and the KCSA Virtual Cannabis Conference on June 5, 2024. The company's top executives will be participating in various panels and one-on-one investor meetings at these events. AWH is a multi-state cannabis operator with assets in several states, producing and distributing a variety of branded products. For more details, visit their website.
AWH ANNOUNCES Q1 2024 FINANCIAL RESULTS: Ascend Wellness Holdings, Inc. reported $142.4M Net Revenue in Q1 2024, a 25% YoY increase and 2% QoQ increase. Adjusted EBITDA was $32.5 million, a 39% YoY increase. The company generated positive cash flow. Retail revenue increased 15.1% YoY. Net loss was $18.2 million. Cash and cash equivalents were $72.9 million. AWH opened two dispensaries, secured operating agreements with two partner dispensaries, and operationalized a new facility. The company plans revenue growth of 12-15% and adjusted EBITDA increase of 17-22% compared to 2023.
Ascend Wellness Holdings, Inc. (AWH) supports the DEA's decision to move cannabis from Schedule I to Schedule III of the CSA, marking a significant step in cannabis reform. This change is expected to bring benefits like tax relief, improved access, funding opportunities, research advancements, and potential up-listing for AWH. The company looks forward to further developments and celebrates the decision's positive impact on stakeholders.
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