AWH Announces Intent to Complete Private Placement with Large Existing Debt and Equity Investor Raising $7 Million in Additional Equity
NEW YORK – Ascend Wellness Holdings, Inc. (“AWH”, “Ascend” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, today announced that the Company intends to complete a Private Placement offering (the “Private Placement”), which will raise an aggregate of $7 million in equity financing. Under the terms of the Private Placement, the Company intends to sell an aggregate of 9,859,155 shares of Class A common stock (the “Shares”) to a large existing debt and equity investor at a price of $0.71 per share. The Company intends to use the proceeds from the Private Placement to pursue potential acquisitions of debt or equity in, or the assets of, certain companies in the cannabis industry consistent with the Company’s current business strategy. “We are seeing a lot of attractive acquisition opportunities that Ascend believes could be significantly accretive,” said John Hartmann, the Chief Exe...