Ayr Wellness Cannabis Borrows $150M At 9.8% For 3 Years On Heels Of Acquisition Spree

Vertically-integrated multi-state operator Ayr Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF) announced Friday it has added roughly $150 million to its balance sheet following the sale of additional 12.5% senior secured notes.

Based in Miami, the company reported that it has closed a private placement offering of roughly $133 million aggregate principal amount of notes at a premium price of $1,070 per $1,000.

The resulting yield-to-maturity is 9.8%, while the notes will be considered "additional notes" under the indenture governing Ayr Wellness' existing 4-year 12.5% notes due on December 10, 2024.

The company said that it will utilize the net proceeds from the offering to fund capital expenditures, including construction and improvement costs, …

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