AYR Wellness Borrows $150 Million at 9.8% for Three Years – New Hashish Ventures

November 12, 2021 at 4:37 pm

Published by NCV Newswire

Ayr Wellness adds $ 150 million to its balance sheet through the sale of additional Senior Secured Notes

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

The company completed a private placement offer for a total of approximately $ 133 million in principal of debt at a premium of $ 1,070 for every $ 1,000. The Notes will be regarded as “Supplementary Notes” within the meaning of the Company’s existing 4 year 12.5% ​​Notes maturing December 10, 2024 and as a series with the existing Notes under this Agreement. The resulting yield to maturity is 9.8%.

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

About Ayr Wellness

Ayr is an expanding vertically integrated US cannabis operator focused on delivering the highest quality cannabis products and customer experiences across its footprint. Based on the belief that everything starts with the quality of the plant, the company focuses on premium cultivation in order to grow high quality branded cannabis products. Ayr strives to enrich the consumer experience every day through the wellbeing and wonders of cannabis.

Ayr’s leadership team brings a proven track record of growing successful businesses through disciplined operations and financial management, and is committed to creating positive impacts for customers, employees and the communities they touch. More information is available at www.ayrwellness.com.

Company contact:

Megan Kulick
Head of Investor Relations
T: (646) 977-7914
Email: IR@ayrwellness.com

Original press release

For fact-based information about Ayr Wellness, see the company-sponsored Investor Dashboard.

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Published by NCV Newswire

NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to curate quality content and information on leading cannabis companies to help our readers filter out the noise and stay up to date on the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated anyway. Do you have a confidential news tip? Get in touch.

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