• Trulieve Cannabis Corp. recently issued an additional US$60,000,000 of 10.5% senior secured notes due December 17, 2030, while also opening a new medical cannabis dispensary in Fort Myers, Florida, adding to its in-house and exclusive partner brand offerings.

• Taken together, the fresh debt financing and footprint expansion highlight how Trulieve is pairing balance sheet-funded growth with deeper penetration of Florida’s medical cannabis market.

• We’ll now examine how Trulieve’s use of higher-cost secured debt to fund continued Florida expansion shapes the company’s broader investment narrative.

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To own Trulieve today, you need to believe that its scale in Florida’s medical market and its brand portfolio can eventually turn current revenue into sustainable, profitable cash generation, despite ongoing losses and a volatile share price. The latest US$60,000,000 in 10.5% senior secured notes and the new Fort Myers dispensary fit neatly into that story: management is still leaning on higher-cost debt to deepen its Florida footprint, even after a steep recent pullback in the share price. That adds incremental interest expense and raises the bar for new stores to earn an adequate return, but it also signals continued commitment to capital deployment following December’s refinancing and expansion activity. In the near term, the key catalysts and risks now tilt even more toward execution in Florida and disciplined balance sheet management.

However, one risk now stands out that shareholders should not ignore. Despite retreating, Trulieve Cannabis’ shares might still be trading above their fair value and there could be some more downside. Discover how much.

Four fair value estimates from the Simply Wall St Community span roughly US$14.78 to US$61.80, underscoring how differently people view Trulieve’s prospects. Against that wide range, the company’s reliance on higher-cost secured debt and continued lack of profitability gives you a concrete set of balance sheet and execution questions to weigh as you compare those opinions.

Explore 4 other fair value estimates on Trulieve Cannabis – why the stock might be worth just CA$14.78!

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