Trulieve Announces Closing of US$60 Million Private Placement of 10.5% Senior Secured Notes

Executive Summary

• Trulieve closed a second tranche of its private placement, issuing $60 million of 10.5% senior secured notes due 2030.
• Combined with the first tranche, total notes issued to date equal $200 million.
• Net proceeds will be used for capital expenditures and general corporate purposes; the notes will later be listed on the Canadian Securities Exchange.

Key Details

• Offering Size: US$60 million principal amount (second tranche).
• Aggregate Issuance: US$200 million of 10.5% senior secured notes due 2030 (including first tranche closed Dec 17, 2025).
• Pricing: Notes issued at US$1,000 per $1,000 principal plus accrued interest of US$12.37 per $1,000 principal from Dec 17, 2025 to Jan 29, 2026.
• Interest Rate: 10.5% per annum, senior secured, due 2030.
• Placement Structure: Private placement on a “best‑efforts” basis under an agency agreement with Canaccord Genuity Corp., acting as sole agent and bookrunner.
• Use of Proceeds: Net proceeds earmarked for capital expenditures and other general corporate purposes.
• Listing Plans: Company will file required documents to list the notes on the Canadian Securities Exchange after the four‑month statutory hold period expires.
• Regulatory Note: The notes were not registered under the U.S. Securities Act of 1933; the release does not constitute an offer or solicitation where such would be unlawful.

Notable Quotes

(No executive quotes provided in the release.)