ALIMERA SCIENCES, INC. (NASDAQ:ALIM) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

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ALIMERA SCIENCES, INC. (NASDAQ:ALIM) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

ALIMERA SCIENCES, INC. (NASDAQ:ALIM) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

As previously disclosed, on December 31, 2019, Alimera Sciences, Inc. (“Alimera”) entered into a $45.0 million Loan and Security Agreement (the “Loan Agreement”) with Solar Capital Ltd. (“Solar Capital”), as Collateral Agent, and the parties signing the Loan Agreement from time to time as Lenders, including Solar Capital in its capacity as a Lender, and borrowed $42.5 million. Under the Loan Agreement, Alimera had the option to borrow an additional $2.5 million (the “Term B Loan”) if it achieved $30.0 million in revenue for any trailing six-month period ending on or before November 30, 2020 from sales of ILUVIEN® in the ordinary course of business to third party customers. Alimera borrowed the Term B Loan on February 21, 2020, having qualified for the borrowing based on revenue for the six-month period ending December 31, 2019. The Term B Loan brings Alimera’s total borrowings under the Loan Agreement to the maximum $45.0 million available.
Alimera expects to use the proceeds from the Term B Loan to provide additional working capital for general corporate purposes.
The summary of the terms of the Loan Agreement set forth in Alimera’s Current Report on Form 8-K dated December 31, 2019 and filed with the SEC on January 6, 2020 is hereby incorporated by reference into this Current Report on Form 8-K (this “Report”).
Item 7.01. Regulation FD.
Alimera issued a press release regarding the Term B Loan on the date of this Report. The full text of the press release is furnished as Exhibit 99.1 to this Report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
ALIMERA SCIENCES INC Exhibit
EX-99.1 2 exhibit991solar25drawdown.htm EXHIBIT 99.1 Exhibit Exhibit 99.1FOR IMMEDIATE RELEASEFor press inquiries:Jules Abrahamfor Alimera Sciences [email protected] investor inquiries:Scott Gordonfor Alimera Sciences [email protected] ALIMERA SCIENCES MEETS REVENUE MILESTONE AND ACCESSES ADDITIONAL $2.5 MILLION UNDER SOLAR DEBT AGREEMENTATLANTA,…
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About ALIMERA SCIENCES, INC. (NASDAQ:ALIM)

Alimera Sciences, Inc. (Alimera) is a pharmaceutical company. The Company is engaged in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company operates through two segments: U.S. and International. The Company focuses on diseases affecting the back of the eye or retina. The Company’s product is ILUVIEN, which is developed to treat diabetic macular edema (DME). DME is a disease of the retina that affects individuals with diabetes and can lead to severe vision loss and blindness. In the United States, ILUVIEN is indicated for the treatment of DME in patients who have been treated with a course of corticosteroids and did not have a rise in intraocular pressure (IOP). In the European Economic Area (EEA) countries, ILUVIEN is indicated for the treatment of vision impairment associated with DME considered insufficiently responsive to available therapies.