Ayr Wellness initiates sale of core assets to senior lenders

AYR Wellness (AYRWF) announces that the public foreclosure auction contemplated by the Restructuring Support Agreement dated July 30, 2025, resulted in the credit bid submitted by the Company’s senior noteholders being deemed the successful bid to acquire ownership through a newly formed acquisition vehicle of certain collateral assets and equity interests of specified subsidiaries in Florida, New Jersey, Nevada, Ohio, Massachusetts, Pennsylvania and Virginia, which collectively represent the core operations of the Company. As further contemplated by the RSA, in the coming days the Company expects to sign a Master Purchase Agreement, to formally begin the process seeking all the necessary regulatory approvals to transfer ownership of the Assets to NewCo, and commence proceedings under the Companies’ Creditors Arrangement Act in British Columbia to facilitate a court-supervised winding-down of the existing AYR corporate parent entity. Odyssey Trust Company, in its capacity as collateral trustee for the Company’s Senior Noteholders, conducted the Sale in accordance with Article 9 of the Uniform Commercial Code, at the direction of Senior Noteholders holding a majority of the outstanding senior notes. The auction for the Sale was held on November 10, 2025, at 10.00 a.m. virtually via Zoom.