AYR Wellness Delays Q1 2025 Financial Filings Amid Strategic Review

LOS ANGELES- AYR Wellness Inc., a U.S.-based multi-state cannabis operator, announced a delay in filing its Q1 2025 financial statements and Management’s Discussion and Analysis (MD&A), originally due on May 30, 2025. The company cited ongoing negotiations with creditors and a comprehensive strategic review as primary reasons for the postponement.

The delay is attributed to the company’s need to assess the appropriate accounting classifications of certain debt obligations currently under negotiation with a committee representing over 50% of its outstanding senior secured notes due December 10, 2026. These discussions are part of a broader strategic review process, for which AYR has retained Moelis & Company LLC as its exclusive investment banker to explore capital structure alternatives.

In response to the missed filing deadline, the Ontario Securities Commission (OSC) indicated it would issue a failure-to-file cease-trade order (CTO), prohibiting trading of AYR’s securities in all Canadian jurisdictions and resulting in a suspension of the company’s shares from trading on the Canadian Securities Exchange (CSE). The CTO will remain in effect until AYR files the required documents and satisfies all CSE requirements.

Despite the regulatory action, AYR stated that the CTO is not expected to impact its ability to continue operating in the ordinary course. The company anticipates completing and filing the interim financial statements and MD&A by June 13, 2025