Core Points - AYR Wellness Inc. has initiated proceedings under the Companies' Creditors Arrangement Act (CCAA) in British Columbia as part of its restructuring process [1][2] - The restructuring is guided by a Restructuring Support Agreement (RSA) dated July 30, 2025, which involves transitioning core assets to a newly-formed acquisition vehicle (NewCo) owned by senior noteholders [1][2][4] - The company plans to request the appointment of a licensed insolvency trustee to monitor the process and ensure operational stability during the wind-down of the existing corporate parent entity [2] Management Changes - The board of directors has appointed Mr. Blake Holzgrafe as Interim Chief Executive Officer to oversee the wind-down of AYR's corporate parent [3] - Mr. Davido will remain an authorized officer of AYR's operating subsidiaries and is expected to become the Interim Chief Executive Officer of NewCo [3] Asset Transfer - A Master Purchase Agreement has been executed, allowing for the transfer of collateral assets and equity interests from specified subsidiaries in states including Florida, New Jersey, Nevada, Ohio, Massachusetts, Pennsylvania, and Virginia to NewCo, pending regulatory approvals [4] Company Overview - AYR Wellness is a vertically integrated U.S. multi-state cannabis operator with over 90 licensed retail locations across several states, offering a range of cannabis products for both medical and adult-use consumers [6]

Core Points - AYR Wellness Inc. has successfully completed a public foreclosure auction, with the senior noteholders winning the bid to acquire core assets and equity interests in multiple states [1][2][3] - The company plans to sign a Master Purchase Agreement (MPA) to initiate the regulatory approval process for transferring ownership of the assets to a newly formed acquisition vehicle (NewCo) [2][4] - The auction was conducted by Odyssey Trust Company under the direction of senior noteholders, with the auction taking place virtually on November 10, 2025 [3] Company Operations - AYR Wellness operates over 90 licensed retail locations across Florida, Pennsylvania, New Jersey, Ohio, Nevada, and Virginia, focusing on both medical and adult-use cannabis markets [6] - The company cultivates, manufactures, and retails a diverse portfolio of high-quality cannabis products, including brands like Kynd, Haze, and Later Days [6] - AYR intends to continue operating its core assets while seeking necessary regulatory approvals and winding down the existing corporate parent entity [4]

Core Points - AYR Wellness Inc. is undergoing a debt restructuring process involving a foreclosure sale of certain assets and equity interests of its subsidiaries as part of the Restructuring Support Agreement dated July 30, 2025 [1][4] - The public auction for these assets is scheduled for November 10, 2025, and will be conducted by Odyssey Trust Company [2] - AYR will continue to operate its businesses during the restructuring process, ensuring the delivery of high-quality products and services [3] Company Overview - AYR Wellness is a vertically integrated U.S. multi-state cannabis operator with over 90 licensed retail locations across Florida, Pennsylvania, New Jersey, Ohio, Nevada, and Virginia [6] - The company cultivates, manufactures, and retails a broad portfolio of high-quality cannabis products, catering to both medical patients and adult-use consumers [6] - AYR also offers a growing suite of consumer packaged goods (CPG) brands, including Kynd, Haze, and Later Days, to meet diverse consumer needs [6]

Core Points - AYR Wellness Inc. has executed a definitive senior secured bridge term loan agreement providing up to US$50 million in funding to support ongoing operations and facilitate a restructuring plan [1][3] - The Bridge Credit Agreement involves multiple draws and is secured by all present and future acquired assets of the Borrower and Guarantors, ranking pari passu with existing senior secured notes [5][6] - The loans under the Bridge Facility bear an interest rate of 14.0% per annum, with specific maturity dates for Tranche A and Tranche B loans [6][10] Financial Structure - The Bridge Facility consists of Initial Term Loans (Tranche A and Tranche B) and Delayed Draw Term Loans, with proceeds allocated for working capital, corporate purposes, and restructuring costs [4][3] - A commitment premium, exit premium, and backstop premium are included in the Bridge Facility, all payable in kind and potentially convertible to equity [7] Covenants and Conditions - The Bridge Credit Agreement includes affirmative and negative covenants, such as maintaining cannabis licenses and restrictions on additional indebtedness, with a minimum liquidity covenant of US$17.5 million [8] - Events of default include payment defaults, covenant breaches, and failure to meet restructuring milestones [9] Company Overview - AYR Wellness is a vertically integrated U.S. multi-state cannabis operator with over 90 licensed retail locations across several states, offering a broad portfolio of cannabis products [12]