Ayr Wellness extends limited waiver agreement with senior noteholders

AYR Wellness (AYRWF) entered into an amendment to the previously disclosed Limited Waiver Agreement dated June 6. The Extended Agreement formally extends the temporary waiver period set forth in the Original Agreement from June 19 to July 3. Under the Original Agreement, the holders of a majority of AYR’s senior secured notes 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, 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 Original Agreement. By extending the waiver period, the Extended Agreement grants the Company additional time and flexibility to continue ongoing negotiations with its senior lenders and to further pursue strategic options to strengthen its capital structure.