Cannabis MSO Strikes Million-Dollar Debt Relief Deal, More Details Here
Portfolio Pulse from Jelena Martinovic
AYR Wellness Inc. has entered into a transaction support agreement with the holders of approximately 75% of the aggregate outstanding principal amount of the company's 12.5% senior notes due December 2024. The deal includes transferring the existing senior notes to a newly formed subsidiary, issuing new senior notes, and offering additional senior notes. The company also announced an agreement with LivFree Wellness, LLC, to amend terms of a promissory note. Upon completion of the transactions, AYR will have retired or extended the maturity of nearly $400 million in debt for an additional two years.
November 01, 2023 | 3:38 pm
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AYR Wellness Inc. has entered into a debt relief deal that will retire or extend the maturity of nearly $400 million in debt for an additional two years. This could potentially improve the company's financial stability.
The debt relief deal will help AYR Wellness manage its debt more effectively, potentially improving its financial stability and making it more attractive to investors. This could potentially lead to an increase in the company's stock price.
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