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XS Financial Provides $15MM CAPEX Lease Facility to Ascend Wellness Holdings

September 09, 2022, 07:11 AM
Filed Under: Cannabis

XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced it has provided a $15 million lease facility to Ascend Wellness Holdings, Inc. (AWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis.

AWH has been approved for a $15 million CAPEX lease facility to purchase new equipment with up to 60-month terms. This facility will be used for cultivation, manufacturing and processing equipment across Massachusetts, Illinois and New Jersey.

David Kivitz, CEO of XS Financial, said, "We are excited to be working with Ascend Wellness, one of the leading multi-state operators in the cannabis industry. Ascend operates with a significant footprint in numerous attractive growth markets, with meaningful CAPEX and equipment needs, and we are excited to support their growth through this initial, competitively priced lease facility. This transaction exemplifies our strategic focus to collaborate with premier cannabis operators to support their growth, resulting in larger leasing agreements and the potential for repeat business. We believe this is just the start of a long term, mutually beneficial relationship with Ascend."

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