AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) executed a senior secured bridge term loan agreement providing up to $50 million in committed funding to support operations during its restructuring process.

The bridge facility consists of Initial Term Loans and Delayed Draw Term Loans, with proceeds designated for working capital, general corporate purposes, and funding a court-supervised wind-down of non-core assets. The agreement was entered into by CSAC Holdings Inc., an indirect subsidiary of AYR, with Acquiom Agency Services LLC serving as administrative and collateral agent.

The loans carry a 14% annual interest rate, payable in kind and capitalized monthly. Tranche A loans mature within 60 days of closing, by November 16, 2025, or upon certain acceleration events tied to a planned sale transaction. Tranche B loans mature within 95 days of the credit-bid sale or by February 19, 2026.

The facility includes a commitment premium of 10% of aggregate commitments, an exit premium of 10%, and a backstop premium of 15% payable to certain parties. These premiums may be exchanged for equity in the post-sale entity according to the restructuring support agreement dated July 30, 2025.

YR must maintain minimum liquidity of $17.5 million, tested weekly, and comply with various covenants including cannabis license maintenance and restrictions on additional debt and asset sales. The facility is secured by all present and future assets of the borrower and guarantors, ranking equally with existing senior secured notes.

Upon completion of the sale transaction, outstanding principal and accrued interest will automatically convert to a new senior secured term facility issued by the acquiring entity. The Miami-based cannabis operator maintains over 90 licensed retail locations across six states.