AYR Wellness Provides Update on Extension of the Limited Waiver Agreement with Senior Noteholders
AYR Wellness (OTCQX: AYRWF) has secured an extension to its Limited Waiver Agreement with majority holders of its senior secured notes until July 18, 2025. The waiver addresses defaults related to delayed Q1 2025 financial filings and certain payment defaults on outstanding debt.
The temporary waiver prevents noteholders from exercising default-related rights while the company continues negotiations with senior lenders and explores strategic options to strengthen its capital structure. AYR continues to operate normally and evaluate growth opportunities while working with stakeholders to address its financial obligations.
AYR Wellness (OTCQX: AYRWF) ha ottenuto un'estensione del suo Accordo di Deroga Limitata con i principali detentori delle sue note senior garantite fino al 18 luglio 2025. La deroga riguarda i mancati adempimenti relativi ai ritardi nella presentazione dei bilanci del primo trimestre 2025 e ad alcuni mancati pagamenti sul debito in essere.
La deroga temporanea impedisce ai detentori delle note di esercitare i diritti legati al default mentre l'azienda continua le trattative con i finanziatori senior ed esplora opzioni strategiche per rafforzare la sua struttura patrimoniale. AYR continua a operare normalmente e a valutare opportunità di crescita, collaborando con gli stakeholder per affrontare i propri obblighi finanziari.
AYR Wellness (OTCQX: AYRWF) ha asegurado una extensión de su Acuerdo de Exención Limitada con los principales tenedores de sus bonos senior garantizados hasta el 18 de julio de 2025. La exención aborda incumplimientos relacionados con retrasos en la presentación de los estados financieros del primer trimestre de 2025 y ciertos incumplimientos de pago en la deuda pendiente.
La exención temporal impide que los tenedores de bonos ejerzan derechos relacionados con incumplimientos mientras la empresa continúa negociando con los prestamistas senior y explora opciones estratégicas para fortalecer su estructura de capital. AYR continúa operando con normalidad y evaluando oportunidades de crecimiento mientras trabaja con las partes interesadas para cumplir con sus obligaciones financieras.
AYR Wellness (OTCQX: AYRWF)는 주요 보유자들과의 제한적 면제 계약을 2025년 7월 18일까지 연장하는 데 성공했습니다. 이 면제는 2025년 1분기 재무보고 지연 및 일부 미지급 부채와 관련된 채무불이행 사항을 다룹니다.
임시 면제는 회사가 선순위 대출기관과의 협상을 계속하고 자본 구조 강화를 위한 전략적 옵션을 모색하는 동안 채권자들이 채무불이행 관련 권리를 행사하지 못하도록 합니다. AYR은 정상적으로 운영을 지속하며 성장 기회를 평가하고 이해관계자들과 협력하여 재무 의무를 해결하고 있습니다.
AYR Wellness (OTCQX : AYRWF) a obtenu une prolongation de son accord de dérogation limitée avec les principaux détenteurs de ses billets garantis seniors jusqu'au 18 juillet 2025. Cette dérogation concerne des manquements liés au retard dans la publication des résultats financiers du premier trimestre 2025 et certains défauts de paiement sur la dette en cours.
La dérogation temporaire empêche les porteurs de billets d'exercer leurs droits liés aux défauts pendant que la société poursuit les négociations avec les prêteurs seniors et explore des options stratégiques pour renforcer sa structure de capital. AYR continue d'opérer normalement et d'évaluer des opportunités de croissance tout en collaborant avec les parties prenantes pour honorer ses obligations financières.
AYR Wellness (OTCQX: AYRWF) hat eine Verlängerung seiner begrenzten Verzichtsvereinbarung mit den Mehrheitsinhabern seiner besicherten Senior Notes bis zum 18. Juli 2025 gesichert. Der Verzicht bezieht sich auf Zahlungsausfälle im Zusammenhang mit verzögerten Finanzberichten für das erste Quartal 2025 und bestimmten Zahlungsausfällen bei ausstehenden Schulden.
Der vorübergehende Verzicht verhindert, dass die Gläubiger ihre ausfallsbezogenen Rechte ausüben, während das Unternehmen weiterhin mit den vorrangigen Kreditgebern verhandelt und strategische Optionen zur Stärkung seiner Kapitalstruktur prüft. AYR arbeitet weiterhin normal und bewertet Wachstumschancen, während es mit den Interessengruppen zusammenarbeitet, um seine finanziellen Verpflichtungen zu erfüllen.
- Secured additional time through waiver extension to negotiate with lenders
- Company maintains normal business operations during negotiations
- Majority noteholders showing cooperation by granting extensions
- Delayed filing of Q1 2025 financial statements indicates potential issues
- Existence of payment defaults on outstanding debt
- Temporary nature of waiver suggests ongoing financial stress
- Need for capital structure strengthening indicates financial challenges
MIAMI, July 11, 2025 (GLOBE NEWSWIRE) -- AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator, today announces that it has entered into an additional amendment to its previously disclosed Limited Waiver Agreement with the holders of a majority of its senior secured notes (the “Majority Holders”). This latest amendment extends the temporary waiver period to July 18, 2025, providing the Company with additional time and flexibility to continue ongoing negotiations with its senior lenders and to further pursue strategic options to strengthen its capital structure.
As previously disclosed, under the Limited Waiver Agreement, the Majority Holders have provided a waiver of certain events of default related to the Company’s delay in filing its interim financial statements for the quarter ended March 31, 2025, as well as specific payment defaults that may occur under AYR’s other outstanding indebtedness. This waiver temporarily restrains the Majority Holders from exercising their default-related rights and remedies with respect to those specified defaults, subject to the terms and conditions in the agreement.
The extension to July 18, 2025, does not constitute a permanent waiver of any existing defaults or any rights under the governing documents. Rather, it allows for continued dialogue and exploration of potential strategies to address the Company’s financial obligations. AYR remains committed to working collaboratively with its senior lenders and other stakeholders to review and assess all available strategic alternatives.
The Company continues to operate its business in the ordinary course and expects to continue evaluating growth opportunities in key markets.
Forward-Looking Statements
Certain statements contained in this news release may contain forward-looking information or may be forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "target", "expect", "anticipate", "believe", "foresee", "could", "would", "estimate", "goal", "outlook", "intend", "plan", "seek", "will", "may", "tracking", "pacing" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking statements pertaining to, among other things, AYR’s ongoing discussions with holders of its senior notes, the exploration of capital structure alternatives, the extension of the Limited Waiver Agreement the review and assessment of other strategic alternatives, and the Company continuing to operate its business in the ordinary course while evaluating growth opportunities. Numerous risks and uncertainties could cause actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. AYR has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About AYR Wellness Inc.
AYR Wellness is a vertically integrated, U.S. multi-state cannabis business. The Company operates simultaneously as a retailer with 90+ licensed dispensaries and a house of cannabis CPG brands.
AYR is committed to delivering high-quality cannabis products to its patients and customers while acting as a Force for Good for its team members and the communities that the Company serves. For more information, please visit www.ayrwellness.com.
Company/Media Contact:
Robert Vanisko
SVP, Public Affairs
T: (786) 885-0397
Email: comms@ayrwellness.com
Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
T: (786) 885-0397
FAQ
What is the new deadline for AYR Wellness (AYRWF) Limited Waiver Agreement?
Why did AYR Wellness need a waiver extension from its noteholders?
What defaults are covered under AYRWF's Limited Waiver Agreement?
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Is the Limited Waiver Agreement a permanent solution for AYR Wellness?
