AYR Wellness Enhances Financial Flexibility with Noteholder Agreement

AYR Wellness Expands Financial Strategy with Updated Agreement

AYR Wellness Inc. ('AYR' or the 'Company'), a prominent U.S.-based multi-state cannabis operator, has officially communicated that it has entered into a significant amendment to its previously established Limited Waiver Agreement. This amendment, which involves the holders of a majority of its senior secured notes, serves to provide AYR with an extended waiver period until July 18, 2025, fostering a conducive environment for ongoing discussions with senior lenders.

Understanding the Implications of the Limited Waiver Agreement

The crux of the Limited Waiver Agreement lies in its provision, allowing AYR additional time and negotiation space concerning its capital structure. This includes addressing certain events of default related to the delay in filing financial statements for the quarter ending March 31, 2025. By securing this amendment, AYR is afforded a protective buffer that restrains the Majority Holders from acting on specified defaults, thus giving the Company room to navigate through its financial obligations smoothly.

Future Plans and Strategic Goals

With the extension in place, AYR remains committed to a collaborative approach in engaging with senior lenders and stakeholders. This strategy not only focuses on compliance with existing financial requirements but also explores various strategic alternatives that may enhance the Company's financial stability. AYR aims to bolster its offerings and market reach in the cannabis industry while ensuring operational continuity amidst the ongoing negotiations.

AYR’s Operational Outlook and Growth Aspirations

In conjunction with the financial negotiations, AYR Wellness continues to align its business practices with the steady operation of its retail dispensaries. With over 90 licensed outlets, the Company is continuously assessing growth opportunities in emerging markets. AYR's multi-faceted approach reflects its commitment to serving patients and consumers eagerly seeking high-quality cannabis products.

About AYR Wellness Inc.

As a vertically integrated cannabis business, AYR Wellness plays a critical role in the industry landscape by uniting retail and consumer packaged goods in cannabis. The Company remains focused on its mission to deliver premium cannabis solutions while acting as a responsible Force for Good in the communities it serves. AYR’s dedication to quality is central to its operational philosophy, aiming to provide exceptional products and customer experiences.

Company Media Contact Details

For inquiries or additional information, please reach out to:

Robert Vanisko
SVP, Public Affairs
T: (786) 885-0397
Email: comms@ayrwellness.com

Investor Relations Information

For investor-related questions, you can contact:

Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397

Frequently Asked Questions

What is the purpose of the Limited Waiver Agreement?

The Limited Waiver Agreement allows AYR Wellness to negotiate financial conditions without the immediate threat of default enforcement by senior noteholders.

What financial strategies is AYR Wellness pursuing?

AYR Wellness is focused on discussions with senior lenders to explore all potential strategic options that can enhance its capital structure.

How many dispensaries does AYR operate?

AYR Wellness operates over 90 licensed dispensaries across multiple U.S. states, providing a broad reach in the cannabis market.

What can investors expect from AYR's future strategies?

Investors can anticipate a thorough review of AYR’s financial obligations and growth strategies aimed at improving stability and market presence.

How is AYR contributing to its community?

AYR actively strives to be a Force for Good, delivering quality cannabis products while positively impacting the communities it serves.

About The Author

Riley Hayes here, a financial writer and specialist committed to assisting individuals in navigating the intricate world of finance. My love is using my blog and articles to simplify complex financial ideas into understandable, doable guidance. Having worked in finance for many years, I try to give my readers the information and resources they need to make wise financial choices.

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