Boston-based Ascend Wellness Holdings (AWH), a multistate vertically integrated marijuana operator, secured $55 million in funding to aid expansion plans in its home state of Massachusetts and other markets.
The capital will also fund construction of AWH’s adult-use flagship store in Boston, the first of its kind in a major East Coast city.
AWH is also building a 9.5-acre cannabis cultivation facility, MassGrow. Located in Athol, Massachusetts, the campus is expected to produce 15 million grams of cannabis annually.
The raise follows a $40 million funding completed in December.