AYR Wellness to Initiate CCAA Proceedings

Executive Summary

• AYR Wellness Inc. has initiated proceedings under the Companies’ Creditors Arrangement Act (CCAA) in the Supreme Court of British Columbia as part of its restructuring plan.
• The board appointed Blake Holzgrafe as Interim CEO of the corporate parent to oversee an orderly wind‑down, while existing officer Davido is slated to become Interim CEO of the newly formed acquisition vehicle (“NewCo”).
• AYR executed a Master Purchase Agreement transferring collateral assets and equity interests in its Florida, New Jersey, Nevada, Ohio, Massachusetts, Pennsylvania and Virginia subsidiaries to NewCo, pending regulatory approvals.

Key Details

• CCAA Initiation: Filed in BC Supreme Court to facilitate court‑supervised restructuring under the previously disclosed Restructuring Support Agreement (RSA) dated July 30 2025.
• Interim Management Changes:
• Blake Holzgrafe appointed Interim CEO of AYR’s corporate parent for wind‑down duties.
• Davido will remain an authorized officer of operating subsidiaries and is expected to become Interim CEO of NewCo.
• Master Purchase Agreement Execution:
• Transfers collateral assets and equity interests of specified subsidiaries in seven U.S. states to NewCo.
• Closing subject to required regulatory approvals and customary conditions.
• Planned Relief Measures: AYR expects to request appointment of a licensed insolvency trustee as monitor and other customary relief to maintain operational stability during the CCAA process.
• Forward‑Looking Statements: The release contains numerous forward‑looking statements regarding timing, regulatory approvals, and execution of RSA‑related transactions; actual results may differ materially.

Notable Quotes

(No direct quotes were provided in the release.)