Ayr Wellness Adds US $ 150 Million To Its Balance Sheet With Sale Of Additional Senior Secured Tickets


MIAMI, Nov. 12, 2021 (GLOBE NEWSWIRE) – Ayr Wellness Inc. (CSE: AYR, OTCQX: AYRWF) (“Ayr” or the “Company”), a vertically integrated multi-state operator (MSO) of cannabis, has announced today that it has added approximately US $ 150 million to its balance sheet following the sale of additional 12.5% ​​senior secured notes (the “Notes”).

The Company completed a private placement of approximately US $ 133 million of an aggregate principal amount of Notes priced at US $ 1,070 per US $ 1,000. The Notes will be treated as “Additional Notes” under the Company’s existing 4-year 12.5% ​​Note Indenture expiring December 10, 2024 and as a single series with the Existing Notes under such Indenture. . The yield to maturity obtained is 9.8%.

As previously announced, Ayr intends to use the net proceeds from the issuance of the Notes to fund capital expenditures, including construction and improvement costs, as well as acquisitions and for general corporate purposes. business.

Forward-looking statements

Certain information contained in this press release may be forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “target”, “expect”, “anticipate”, “believe”, “expect”, “could”, “could”, “Estimate”, “objective”, “prospect”, “intention”, “plan”, “seek”, “will”, “could”, “follow”, “keep up”, “pace” and “should” and similar phrases or words suggesting future results. This press release contains forward-looking information and statements concerning, among other things, the intended use of the product by Ayr. Numerous risks and uncertainties could cause actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in forward-looking statements, including, but not limited to: anticipated strategic, operational and competitive advantages may not be realized; events or series of events, including those related to COVID-19, may cause business interruptions; required regulatory approvals may not be obtained; acquisitions may not be able to be completed on satisfactory terms or not at all or may not be successful; and Ayr may not be able to raise additional debt or equity. Among other things, Ayr has assumed that its business will operate as intended, that it will be able to complete acquisitions on reasonable terms and that all required regulatory approvals will be obtained on satisfactory terms and on schedule. There can be no assurance that the Offer of Debt Securities will be completed or as to the terms or amount thereof.

Estimates and assumptions involve known and unknown risks and uncertainties which may cause actual results to differ materially. Although Ayr believes there is a reasonable basis for these assumptions, these estimates may not be satisfied. These estimates represent forward-looking information. Actual results may vary and differ materially from estimates.

About Ayr Well-being
Ayr is a growing, vertically integrated US multi-state cannabis operator focused on delivering the highest quality cannabis products and customer experience across its footprint. Starting from the belief that it all starts with the quality of the plant, the company focuses on superior cultivation to grow top brand cannabis products. Ayr strives to enrich the consumer experience every day through the well-being and wonders of cannabis.

Ayr’s leadership team brings a proven track record in growing successful businesses through disciplined operational and financial management, and is committed to making a positive impact for customers, employees and the communities they touch. . For more information, please visit www.ayrwellness.com.

Company details :

Megan Kulick
Head of Investor Relations
T: (646) 977-7914
E-mail: [email protected]

Media contact:

Robert vanisko
Vice-President, Corporate Communications
Email: [email protected]

Investor Relations Contact:

Brian Pinkston
MATTIO Communication
T: (703) 926-9159
Email: [email protected]
E-mail: [email protected]

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