July 6, 2020 / 2:55 AM / a month ago

BRIEF-Endologix Enters Agreement With Deerfield Partners To Take Co Private

July 5 (Reuters) - Endologix Inc:

* ENDOLOGIX ENTERS INTO AN AGREEMENT WITH DEERFIELD PARTNERS TO TAKE COMPANY PRIVATE

* COMMENCES VOLUNTARY CHAPTER 11 PROCESS WITH ACCESS TO $30.8 MILLION IN DIP FINANCING

* FILES CONSENSUAL PLAN OF REORGANIZATION THAT WOULD REDUCE $180 MILLION IN DEBT AND PROVIDE $30 MILLION IN ADDITIONAL EXIT FINANCING

* CONFIRMS LAUNCH OF ALTO THIS SUMMER, STEADY PRODUCTION, CONTINUED CLINICAL STUDIES, AND ACCELERATED PIPELINE

* EXPECTS TO EMERGE WELL CAPITALIZED BY END OF Q3 OF 2020

* UNDER TERMS OF PLAN FILED, ENDOLOGIX WILL BECOME A PRIVATE COMPANY

* HAS INITIATED A VOLUNTARY CHAPTER 11 CASE AND SIMULTANEOUSLY FILED A CONSENSUAL PLAN OF REORGANIZATION SUPPORTED BY DEERFIELD PARTNERS

* COMPANY EXPECTS TO GAIN ACCESS TO $110.8 MILLION OF NEW FINANCING THROUGH THIS PROCESS, INCLUDING $30.8 MILLION IN DIP FINANCING Source text for Eikon: Further company coverage:

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