Ascend Wellness closes $9.34M financing with CF Bank

Executive Summary

• Ascend Wellness Holdings Inc. closed a $9,345,000 secured mortgage financing with CF Bank on September 12, 2025.
• The loan is secured by real estate in Cincinnati, Sandusky and Piqua, Ohio, carries an 8.5% annual interest rate, and matures in September 2030.
• Management states the transaction strengthens the balance sheet, provides non‑dilutive capital, and positions the company for continued growth in Ohio.

Key Details

• Financing Amount: $9,345,000 secured mortgage loan.
• Lender: CF Bank.
• Security: Real estate located on three Ohio properties (Cincinnati, Sandusky, Piqua).
• Interest Rate: 8.5% per annum (competitive rate).
• Maturity: September 2030.
• Effective Date of Closing: September 12, 2025.
• Purpose / Use of Proceeds: To strengthen the balance sheet, fund operations and growth initiatives in Ohio’s emerging market, and deliver value to shareholders (non‑dilutive, low‑cost capital).

Notable Quotes

“This transaction strengthens AWH's balance sheet and demonstrates our ability to execute non-dilutive, low cost of capital financing transactions,” said Sam Brill, CEO.
“With this attractive financing in place, AWH is well positioned to serve patients and local communities in Ohio’s emerging market while positioning for further growth opportunities and delivering value to our shareholders.”