[PRESS RELEASE] – MIAMI, July 2, 2025 – AYR Wellness Inc., a leading vertically integrated U.S. multistate cannabis operator, confirms that it did not make the interest payment due on June 30, 2025, in connection with the outstanding senior notes issued pursuant to its amended and restated trust indenture dated Feb. 7, 2024. Should the company not make the interest payment on or before July 30, 2025, that will result in an event of default in respect of the notes.
“Today’s news reflects an appropriate step in our ongoing restructuring of our debt profile,” interim CEO Scott Davido said. “As we continue the strategic review of our business and explore pathways to achieve the right capital structure, we continue to maintain a strong working relationship with the holders of a majority of our outstanding notes.”
As announced by the company on May 30, 2025, the company is actively engaged in discussions with the holders of a majority of the outstanding notes regarding the exploration of capital structure alternatives as part of a broader review and assessment of other strategic alternatives.
The company does not anticipate that the missed interest payment will result in any operational challenges with respect to its business.
