Ascend Group Holdings, LLC announced that it has received $55 million in funding from Shire Capital Management, Three Bays Capital LP, JM10 Partners, LLC, Poseidon Asset Management, LLC, Salveo Capital and other investors
February 19, 2019
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Ascend Group Holdings, LLC announced a private placement for gross proceeds of $55,000,000 on February 20, 2019. The company issued preferred equity in a bridge round for total proceeds of $37,000,000 and senior secured cultivation note for total proceeds of $18,000,000 from high net worth investors. The transaction was co led by Three Bays Capital LP, and returning investors Shire Capital Management, and JM10 Partners, LLC. The transaction also involved participation from existing investors Poseidon Asset Management, LLC and Salveo Capital. The company announced that it has raised over $100,000,000 in funding till date.
Ascend Wellness Holdings, Inc. is a vertically integrated multi-state cannabis operator. The Company is focused on operating in adult-use or near-term adult-use states in primarily limited license markets. It is engaged in cultivation, manufacturing, and distribution of cannabis consumer packaged goods, which are sold through Company-owned retail stores and to third-party licensed retail cannabis stores. The Company has licenses and assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. It produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Royale, and Tunnel Vision branded products. The Company operates cultivation facilities in six states with approximately 245,000 square feet of total canopy. Common Goods is a no-frills brand that offers high value cannabis for everyday consumption. The brand comes in flower and pre-rolls. Ozone Reserve comes in exotic flower, refined concentrates, purified oils, and vapes.
Ascend Group Holdings, LLC announced that it has received $55 million in funding from Shire Capital Management, Three Bays Capital LP, JM10 Partners, LLC, Poseidon Asset Management, LLC, Salveo Capital and other investors
ASCEND WELLNESS HOLDINGS, INC. 
