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 has officially opened its third medical dispensary in New Jersey, located in Fort Lee. The new facility spans over 3,400 square feet and features 29 registers to enhance efficiency. This expansion aims to meet the increasing demand for cannabis in the region and is strategically positioned across the Hudson River from New York City. Ascend Fort Lee will offer a full menu of cannabis products and is planning to transition to adult-use sales later this fall to serve both medical patients and recreational consumers.
Ascend Wellness Holdings, Inc. (AAWH) is set to hold a conference call on August 15, 2022, at 5:00 PM ET, to discuss its second quarter 2022 financial results following market close. Investors can join by dialing 1 (888) 390-0605 with the conference ID 06364687. A live audio webcast will also be available on the company's Investor Relations page. AWH operates in several states including Illinois, Michigan, and New Jersey, producing a range of cannabis products.
Ascend Wellness Holdings (AAWH) announced that its directors, Emily Paxhia, Scott Swid, and Joseph Hinrichs, collectively purchased approximately 60,352 Class A Common Shares between July 5 and July 6, 2022. This follows earlier purchases by CEO Abner Kurtin and President Frank Perullo. The company reassured stakeholders about its growth prospects despite market challenges, with the Board expressing confidence in Ascend's trajectory and the cannabis industry.
Ascend Wellness Holdings announced the purchase of 50,000 Class A Common Shares by AGP Partners, LLC at $2.05 per share on July 1, followed by 1,100 shares at $1.90 on July 4. AGP is associated with CEO Abner Kurtin and President Frank Perullo. Kurtin expressed confidence in AWH's future, leveraging current market conditions for strategic stock purchases while focusing on growth initiatives and financial performance, despite capital challenges.
Ascend Wellness Holdings (CSE: AAWH.U; OTCQX: AAWH) has closed on $28.5 million under its Senior Credit Facility, increasing total funding to $275 million. This funding will support near-term capital expenditures and acquisitions as the company expands its operations across the Midwest and Northeast. The loan carries a 9.5% interest rate, maturing in August 2025, and includes a warrant coverage of 20% on a $3.10 exercise price. CFO Dan Neville expressed optimism about leveraging this capital to enhance growth strategies.
Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) has successfully closed an additional $36.5 million in funding through its existing term loan credit facility to support growth initiatives. This follows the August 2021 announcement of a $210 million senior secured term loan. The new financing aims to enhance expansion efforts, particularly in Pennsylvania and the acquisition of MedMen NY. CFO Dan Neville emphasized ongoing exploration of financing options for growth.
Ascend Wellness Holdings reported Q1 2022 net revenue of $85.1 million, a 3.8% decline from the previous quarter but a 28.7% increase year-over-year. Gross revenue totaled $101.2 million, reflecting a 0.8% quarter-over-quarter decrease and a 33.4% annual growth. The net loss widened to $27.8 million compared to $16.5 million in Q4 2021. Adjusted EBITDA stood at $16.4 million, down 17.1% quarter-over-quarter. The company expanded its operations into Pennsylvania and launched adult-use sales in New Jersey, marking a significant growth opportunity.
Ascend Wellness Holdings, Inc. (AWH) has signed a term sheet to resolve a lawsuit against MedMen NY, Inc., agreeing to acquire a 99.99% stake in MedMen NY. AWH will increase the transaction value by $15 million, bringing the total to $88 million, which remains below recent comparable deals. AWH will pay $74 million at closing, including a prior deposit, and an additional $14 million upon the first sale of adult-use cannabis. This acquisition marks AWH's entry into New York, enhancing its presence in the cannabis market.
Ascend Wellness Holdings (CSE: AAWH.U, OTCQX: AAWH) announced its participation in two upcoming virtual cannabis conferences. CEO Abner Kurtin will join the 6th Annual Canaccord Genuity Cannabis Conference for a fireside chat on May 11, 2022, at 8:00 am ET. The event can be accessed here. Kurtin will also participate in the Wolfe Research Virtual Consumer Conference on May 13, 2022, at 12:55 pm ET, alongside industry leaders.
Ascend Wellness Holdings, Inc. (AAWH) announced a conference call for May 11, 2022, at 5:00 PM ET to discuss its first-quarter 2022 financial results. Investors can access the call by dialing 1 (888) 390-0605 with conference ID 72077468. A live audio webcast will also be available on AWH's Investor Relations website, where a replay will be archived. AWH operates in several states including Illinois, Michigan, and New Jersey, focusing on producing cannabis products and maintaining cultivation facilities.
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