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]