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.
Head of Investor Relations
T: (646) 977-7914
Original press release
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Published by NCV Newswire
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