- AYR Wellness (AYRWF, Financial) will miss the May 30, 2025 deadline to file its Q1 2024 financial statements.
- The company expects a cease-trade order (CTO) affecting securities trading in Canada.
- Negotiations with creditors and a strategic review are underway to address financial obligations.
AYR Wellness Inc. (AYRWF), a prominent U.S. multi-state cannabis operator, announced that it will be unable to meet the May 30, 2025 deadline for submitting its Q1 2024 financial statements and Management’s Discussion and Analysis (MD&A). This delay will trigger a cease-trade order (CTO) from the Ontario Securities Commission, prohibiting trading of AYR's securities in Canadian jurisdictions and suspending them from the Canadian Securities Exchange.
Amidst this financial turbulence, AYR has initiated a strategic review process to tackle its upcoming payment obligations to creditors. The company has enlisted Moelis & Company LLC as its investment banker to explore capital structure alternatives. In a bid to alleviate financial pressure, AYR is currently negotiating with a committee representing over 50% of its outstanding senior secured notes due in December 2026.
The company anticipates filing the required financial documents by June 13, 2025, and maintains that the impending CTO will not interfere with its regular business operations. Despite the ongoing negotiations and the expected regulatory actions, AYR Wellness continues to operate in its usual capacity while seeking viable financial solutions.
