TerrAscend (TSNDF) director buys $1,000,000 in secured convertible debentures
Rhea-AI Filing Summary
TerrAscend Corp. director Edward J. Schutter acquired secured convertible debentures with an aggregate principal amount of $1,000,000 in a private placement that closed on June 23, 2026. The debentures bear interest at 8.00% per year, payable quarterly in arrears in cash or, at the company’s election, by adding interest to principal.
The debentures are convertible into Common Shares at a conversion price of $0.87 per share, representing 1,149,425 underlying Common Shares. They mature on September 30, 2031. After these transactions, Schutter directly holds 2,451,337 Common Shares. The filing also updates his holdings to remove 2,000 earlier convertible debentures that had matured and were repaid entirely in cash.
Positive
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Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
SCHUTTER EDWARD J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Convertible Debentures | 1,000 | $1,000.00 | $1.00M |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Convertible Debentures — 1,000 shares (Direct);
Common Shares — 2,451,337 shares (Direct)
Footnotes (3)
- F1. The Reporting Person's Table I holdings have been updated to exclude 2,000 convertible debentures previously reported as being issued as common shares on June 23, 2023, which have matured and were repaid in full in cash.
- F2. Represents secured convertible debentures (the "Debentures") of TerrAscend Corp. (the "Company") having an aggregate principal amount of $1,000,000, purchased by the Reporting Person at a purchase price of $1,000 per Debenture in a private placement that closed on June 23, 2026. The Debentures mature on September 30, 2031 and bear interest at 8.00% per annum, payable quarterly in arrears in cash, provided that the Company may elect to pay all or any portion of such interest in kind by capitalizing it as additional principal. The Debentures are convertible at a conversion price of $0.87 per share pursuant to the terms set forth in the Debentures, as may be adjusted pursuant to the terms of the Debentures.
- F3. Calculated based on the $1,000,000 aggregate principal amount of Debentures divided by the $0.87 conversion price.
Key Figures
Debenture principal: $1,000,000
Interest rate: 8.00% per annum
Conversion price: $0.87 per share
+5 more
8 metrics
Debenture principal
$1,000,000
Aggregate principal amount of secured convertible debentures
Interest rate
8.00% per annum
Interest on debentures, payable quarterly in arrears
Conversion price
$0.87 per share
Price at which debentures convert into Common Shares
Underlying shares
1,149,425 shares
Common Shares initially issuable upon conversion of debentures
Common Shares held
2,451,337 shares
Direct Common Share holdings after reported transactions
Debenture units
1,000 debentures
Number of secured convertible debentures at $1,000 each
Maturity date
September 30, 2031
Debentures’ stated maturity date
Removed prior debentures
2,000 debentures
Earlier debentures that matured and were repaid in cash
Key Terms
Convertible Debentures, aggregate principal amount, conversion price, payable quarterly in arrears, +1 more
5 terms
Convertible Debentures financial
"Represents secured convertible debentures (the "Debentures") of TerrAscend Corp."
Convertible debentures are loans a company issues that pay interest like a bond but can be swapped later for the company’s shares at a set price. For investors they act like a safety-net plus a shortcut: you get regular interest payments while retaining the option to join ownership if the share price rises, which offers upside potential but can dilute existing shareholders if conversion occurs.
aggregate principal amount financial
"having an aggregate principal amount of $1,000,000, purchased by the Reporting Person"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
conversion price financial
"The Debentures are convertible at a conversion price of $0.87 per share"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
payable quarterly in arrears financial
"bear interest at 8.00% per annum, payable quarterly in arrears in cash"
Payable quarterly in arrears means a company or issuer pays interest, dividends or other recurring payouts once every three months, but only after the three-month period has finished — like receiving a paycheck at the end of the month for work already done. For investors this matters because it determines when cash actually arrives, influences short-term cash planning, and affects yield calculations and reinvestment timing.
interest in kind financial
"the Company may elect to pay all or any portion of such interest in kind"
FAQ
What insider transaction did TerrAscend (TSNDF) report for Edward J. Schutter?
TerrAscend reported that director Edward J. Schutter acquired secured convertible debentures with $1,000,000 aggregate principal in a private placement on June 23, 2026. These debentures are convertible into Common Shares and carry an 8.00% annual interest rate.
What are the key terms of TerrAscend’s $1,000,000 convertible debentures?
The debentures have an aggregate principal of $1,000,000, mature on September 30, 2031, and bear 8.00% annual interest, payable quarterly. TerrAscend may pay interest in cash or capitalize it as additional principal under the debenture terms.
How were Edward J. Schutter’s prior TerrAscend debenture holdings adjusted in this Form 4?
The filing states that Schutter’s Table I holdings were updated to exclude 2,000 convertible debentures previously reported as common shares. Those debentures had matured and were fully repaid in cash, so they no longer appear in his current reported holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
