Ayr Wellness Tackles Restructuring: A New Dawn for Cannabis Investors?
David Goubert, president and CEO of Ayr Wellness Inc., will speak at the upcoming Benzinga Cannabis Capital Conference. He will analyze the latest economic indicators to assess the cannabis market’s health, trends, and investment opportunities.
His participation comes at a crucial time for Ayr Wellness, which recently completed a notable financial restructuring to enhance its financial stability and future prospects.
Ayr Wellness’s Financial Strategy
Ayr Wellness recently announced the completion of a plan of arrangement, extending the maturity of Senior Notes due in 2024 and other debts by two years. This restructuring has enabled Ayr Wellness to manage and raise nearly $400 million in debt, with limited maturities until 2026.
The strategy included issuing approximately 29 million subordinate voting shares to Senior Noteholders of 2024, about 5 million shares to the Backstop Provider, and around 23 million Anti-Dilutive Warrants to shareholders as of Feb. 5, 2024.
Additionally, the company succeeded in raising US$40 million through the issuance of US$50 million of …