AYR Wellness Announces Further Extension of Limited Waiver Agreement with Senior Noteholders
AYR Wellness (OTCQX: AYRWF) has secured an additional extension to its Limited Waiver Agreement with majority holders of its senior secured notes until July 25, 2025. The extension maintains the temporary waiver of certain defaults related to delayed Q1 2025 financial filings and potential payment defaults on other outstanding debt.
This agreement prevents senior noteholders from exercising default-related rights while providing AYR additional time to negotiate with senior lenders and explore strategic options to strengthen its capital structure. The company continues to operate normally while evaluating growth opportunities in key markets.
AYR Wellness (OTCQX: AYRWF) ha ottenuto un'ulteriore proroga del suo Accordo di Deroga Limitata con i principali detentori delle sue note senior garantite fino al 25 luglio 2025. Questa estensione mantiene la sospensione temporanea di alcune inadempienze legate al ritardo nella presentazione dei bilanci del primo trimestre 2025 e a potenziali mancati pagamenti su altri debiti in essere.
Questo accordo impedisce ai detentori delle note senior di esercitare i diritti legati all'inadempienza, garantendo ad AYR più tempo per negoziare con i finanziatori senior e valutare opzioni strategiche per rafforzare la propria struttura patrimoniale. L'azienda continua a operare normalmente mentre esamina opportunità di crescita nei mercati chiave.
AYR Wellness (OTCQX: AYRWF) ha asegurado una extensión adicional de su Acuerdo de Exención Limitada con los principales tenedores de sus notas senior garantizadas hasta el 25 de julio de 2025. La extensión mantiene la exención temporal de ciertos incumplimientos relacionados con el retraso en la presentación de los estados financieros del primer trimestre de 2025 y posibles incumplimientos de pago sobre otras deudas pendientes.
Este acuerdo impide que los tenedores de notas senior ejerzan derechos relacionados con incumplimientos, brindando a AYR tiempo adicional para negociar con los prestamistas senior y explorar opciones estratégicas para fortalecer su estructura de capital. La compañía continúa operando con normalidad mientras evalúa oportunidades de crecimiento en mercados clave.
AYR Wellness (OTCQX: AYRWF)는 주요 담보부 선순위 채권 보유자들과의 제한적 면제 계약을 2025년 7월 25일까지 추가 연장하는 데 성공했습니다. 이번 연장은 2025년 1분기 재무 보고 지연 및 기타 미지급 부채에 대한 잠재적 지급 불이행과 관련된 특정 위반 사항에 대한 임시 면제를 유지합니다.
이 계약은 선순위 채권 보유자들이 위반 관련 권리를 행사하는 것을 방지하며 AYR에게 선순위 대출자들과의 협상 및 자본 구조 강화를 위한 전략적 옵션 모색을 위한 추가 시간을 제공합니다. 회사는 주요 시장에서의 성장 기회를 평가하면서 정상적으로 운영을 계속하고 있습니다.
AYR Wellness (OTCQX : AYRWF) a obtenu une extension supplémentaire de son Accord de Renonciation Limitée avec les principaux détenteurs de ses billets garantis seniors jusqu'au 25 juillet 2025. Cette prolongation maintient la dérogation temporaire à certains défauts liés au retard dans la publication des états financiers du premier trimestre 2025 et aux éventuels défauts de paiement sur d'autres dettes en cours.
Cet accord empêche les détenteurs de billets seniors d'exercer leurs droits en cas de défaut, offrant à AYR un délai supplémentaire pour négocier avec les prêteurs seniors et explorer des options stratégiques afin de renforcer sa structure financière. La société continue de fonctionner normalement tout en évaluant les opportunités de croissance sur les marchés clés.
AYR Wellness (OTCQX: AYRWF) hat eine weitere Verlängerung seiner beschränkten Verzichtsvereinbarung mit den Mehrheitsinhabern seiner vorrangig besicherten Schuldverschreibungen bis zum 25. Juli 2025 gesichert. Die Verlängerung hält den vorübergehenden Verzicht auf bestimmte Verstöße im Zusammenhang mit verspäteten Finanzberichten für das erste Quartal 2025 und möglichen Zahlungsausfällen bei anderen ausstehenden Schulden aufrecht.
Diese Vereinbarung verhindert, dass die Inhaber der vorrangigen Schuldverschreibungen ihre Rechte bei Vertragsverletzungen ausüben, und verschafft AYR zusätzliche Zeit, um mit den vorrangigen Kreditgebern zu verhandeln und strategische Optionen zur Stärkung der Kapitalstruktur zu prüfen. Das Unternehmen arbeitet weiterhin normal und bewertet Wachstumschancen in wichtigen Märkten.
- Extension provides additional time to negotiate with lenders and explore strategic options
- Company maintains normal business operations during negotiations
- Majority noteholders continue to show flexibility by extending waiver period
- Ongoing default situation on financial statement filing requirements
- Potential payment defaults on outstanding debt obligations
- Temporary nature of waiver indicates continued financial stress
MIAMI, July 18, 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 25, 2025, providing the Company with further 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 25, 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 extension date for AYR Wellness (AYRWF) Limited Waiver Agreement?
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