Endologix Enters into an Agreement with Deerfield Partners to Take the Company Private
ENDOLOGIX (ELGX)
Last endologix earnings: 2/19 04:01 pm
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US:NASDAQ Investor Relations:
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Company Research
Source: Business Wire
Commences voluntary Chapter 11 process with access to $30.8 million in DIP financingFiles consensual plan of reorganization that would reduce approximately $180 million in debt and provide an approximately $30 million in additional exit financingConfirms launch of Alto this summer, steady production, continued clinical studies, and accelerated pipelineExpects to emerge well capitalized by the end of the third quarter of 2020, positioned for long-term growth IRVINE, Calif.--(BUSINESS WIRE)--Endologix, Inc. (Nasdaq: ELGX) (“Endologix” or “the Company”), a developer and marketer of innovative treatments for aortic disorders, today announced that, after evaluating a variety of strategic options, it has initiated a voluntary Chapter 11 case and simultaneously filed a consensual plan of reorganization supported by Deerfield Partners (“Deerfield”) as its largest creditor. The Company firmly believes these actions provide the best path to address financial challenges resulting from COVID-
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