Trulieve Cannabis Corp. raised US$140 million through a private placement of senior secured notes to support its growth strategy and capital expenditures.

Target Information

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TRUL) is a leading American cannabis company specializing in a vertically integrated business model. As an influential multi-state operator, Trulieve has established significant market presences in Arizona, Florida, and Pennsylvania. With a focus on innovation, the company provides a diverse range of high-quality cannabis products aimed at enhancing customer experiences and accessibility for patients and consumers.

On December 17, 2025, Trulieve successfully closed a private placement of 10.5% senior secured notes due in 2030, securing a total of US$140 million. The raised funds will be allocated toward capital expenditures and general corporate purposes. The demand for these notes was high, prompting an upsizing of the offering, which was executed on a best-efforts basis. The notes bear a semi-annual interest rate of 10.5% and are issued at face value.

Industry Overview

The cannabis industry in the United States is rapidly evolving, characterized by increasing legalization and regulatory changes across various states. As consumers become more receptive to cannabis products, the sector h