TerrAscend Corp.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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FY2025 · Filed Mar 12, 2026
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Item 2. Properties
TerrAscend's corporate headquarters is located in Union City, New Jersey and the Issuer’s registered office is in Mississauga, Ontario, Canada. In addition, the Company has various other offices, manufacturing, cultivation and/or processing facilities and dispensaries across the United States. The Company believes that its current offices and facilities are suitable and adequate to meet its current needs. The Company intends to add new facilities or expand existing facilities as it adds employees, and it believes that suitable additional or substitute space will be available as needed to accommodate any such expansion of the Company's operations.
The following tables set forth the Company’s material physical properties as of March 11, 2026.
| Corporate Properties | ||
|---|---|---|
| Type | Location | Leased / Owned |
| Office | Santa Rosa, CA | Leased* |
| Production and Storage Properties | ||
| Type | Location | Leased / Owned |
| Cultivation, Processing | Ilera | Owned* |
| Waterfall, PA | ||
| Cultivation, Processing | TerrAscend NJ LLCBoonton, NJ | Owned* |
|---|---|---|
| Cultivation | State FlowerSan Francisco, CA | Leased* |
| Cultivation, Processing | HMS HealthHagerstown, MD | Owned* |
| Retail Properties | ||
| Type | Location | Leased / Owned |
| Dispensary | CookiesToronto, ON Canada | Leased* |
| Dispensary | The ApothecariumPlymouth Meeting, PA | Leased* |
| Dispensary | The ApothecariumLancaster, PA | Leased* |
| Dispensary | The ApothecariumThorndale, PA | Leased* |
| Dispensary | The ApothecariumAllentown, PA | Leased* |
| Dispensary | The ApothecariumBethlehem, PA | Leased* |
| Dispensary | The ApothecariumStroudsburg, PA | Leased* |
| Dispensary | The ApothecariumPhillipsburg, NJ | Owned* |
| Dispensary | The ApothecariumMaplewood, NJ | Leased* |
| Dispensary | The ApothecariumLodi, NJ | Leased* |
| Dispensary | Union ChillLambertville, NJ | Leased† |
| Dispensary | The ApothecariumCumberland, MD | Leased* |
| Dispensary | The ApothecariumSalisbury, MD | Leased* |
| Dispensary | The ApothecariumNottingham, MD | Leased* |
| Dispensary | The ApothecariumBurtonsville, MD | Leased* |
| Dispensary | The Apothecarium – CastroSan Francisco, CA | Leased* |
|---|---|---|
| Dispensary | The Apothecarium – MarinaSan Francisco, CA | Leased* |
| Dispensary | The Apothecarium – SomaSan Francisco, CA | Leased* |
| Dispensary | The ApothecariumBerkeley, CA | Leased* |
| Dispensary | Ratio CannabisNew Philadelphia, OH | Leased* |
| Miscellaneous Properties | ||
| Type | Location | Leased / Owned |
| Cultivation, Processing | Monitor FacilityMonitor, MI | Owned |
- Property or lease on the property is subject to an encumbrance as described below.
† Property is leased by Union Chill Cannabis Company LLC (“Union Chill”), a New Jersey limited liability company in which subsequent to the year ended December 31, 2025, the Company exercised the option to hold a 35% ownership interest.
Subleased and not utilized in the Company's operations
Properties Subject to an Encumbrance
The Company, pursuant to a senior secured term loan with an aggregate principal amount of $222.1 million, entered into on August 1, 2024, and amended pursuant to a joinder agreement dated September 30, 2024 and July 8, 2025 (the “FG Loan”), by and between the Company, as guarantors, and each of the Borrowers (as defined below) and Incremental Amendment Borrowers (as defined below), and FG Agency Lending LLC, as the Administrative Agent, has pledged substantially all of the assets of the Borrowers (as defined below) and Incremental Amendment Borrowers (as defined below) as collateral to secure its obligations.
See the section titled "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations—Debt Facilities" of this Annual Report for more information regarding the Company's indebtedness.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.