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Foley Hoag Represents Trulieve in Closing of $350M Private Placement of 8% Senior Secured Notes

October 08, 2021

Foley Hoag LLP represented Trulieve Cannabis Corp. (“Trulieve”) (CSE: TRUL) (OTCQX: TCNNF) in closing its previously announced private placement of 8% Senior Secured Notes due 2026 (the “Notes”) for aggregate gross proceeds of US$350 million (the “Offering”). Trulieve intends to use the net proceeds of the Offering to redeem certain outstanding indebtedness of Harvest Health & Recreation Inc. (“Harvest”) following the completion of Trulieve’s acquisition of Harvest on October 1, 2021, and for capital expenditures and other general corporate purposes.

Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., operating in 11 states with leading market positions in Arizona, Florida and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. 

Foley Hoag attorneys Ryan Rourke Reed, Stacie Aarestad, Rayanna Smith, Jesse Alderman, Nick Romanos and Terry Martland represented Trulieve in the transaction.