Ayr Wellness announces commencement of RSA Article 9 proceedings

AYR Wellness (AYRWF) announces the next step of its debt restructuring process with its senior noteholders. As contemplated by the Restructuring Support Agreement dated July 30, this next phase of the restructuring will be implemented through a foreclosure sale, conducted by Odyssey Trust Company, in its capacity as collateral trustee for the Company’s senior noteholders. The Trustee, at the direction of Senior Noteholders holding over a majority of the outstanding senior notes, has delivered notifications of disposition of collateral in accordance with the Uniform Commercial Code to conduct a public sale of certain collateral assets and equity interests of certain specified AYR subsidiaries with respect to certain going-concern operations of the Company in Florida, New Jersey, Nevada, Ohio, Massachusetts, and Pennsylvania, as more fully set forth in the notification delivered by the Trustee, and published an advertisement with respect to the Sale in the Wall Street Journal and distributed via Cannabis Business Times. The public auction is scheduled to occur on November 10, 2025, at 10:00 a.m. Eastern Time, at the offices of Paul Hastings, 200 Park Avenue, 26th Floor, New York, NY 10166, and/or virtually via video conference and the Trustee reserves the right to adjourn or postpone the auction without any further notice. “The commencement of the Article 9 proceedings and public auction process marks the latest milestone in our ongoing restructuring process, said Scott Davido, Interim CEO of AYR. “As we work to transition the ownership of many of the Company’s assets to the successful bidder, throughout this entire process, AYR will continue to fully operate these businesses and continue to deliver the same high quality of products and services.”