Trulieve closes $60-million (U.S.) note offering

Executive Summary

• Trulieve Cannabis Corp. has closed the second tranche of its private placement of 10.5% Senior Secured Notes due 2030, raising US$60.0 million.
• This closing brings the aggregate principal amount of notes issued to US$200.0 million, combining this tranche with the first tranche of US$140.0 million which closed on December 17, 2025.
• The net proceeds are intended for capital expenditures and general corporate purposes, with plans to list the notes on the Canadian Securities Exchange after the statutory hold period expires.

Key Details

• Transaction Structure: Private placement of 10.5% Senior Secured Notes due 2030.
• Second Tranche Amount: US$60.0 million principal amount.
• Total Aggregate Principal: US$200.0 million (including the first tranche of US$140.0 million closed on Dec. 17, 2025).
• Price: US$1,000 per note, plus accrued but unpaid interest.
• Accrued Interest: US$12.37 per US$1,000 principal, calculated from Dec. 17, 2025, to Jan. 29, 2026.
• Agent: Canaccord Genuity Corp. served as sole agent and sole bookrunner on a best efforts basis.
• Use of Proceeds: Capital expenditures and other general corporate purposes.
• Listing Intent: The company intends to file for listing on the Canadian Securities Exchange (CSE) following the expiry of the four-month Canadian statutory hold period.
• Terms: The notes issued in this tranche have the same terms as those issued on Dec. 17, 2025.

Notable Quotes

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