Alimera Sciences, Inc. Refinances Its Debt Facility by Entering into A New $45 Million Term Loan Agreement with Its Current Lenders, Investment Affiliates Managed by Solar Capital Partners, LLC, on December 31, 2019
January 06, 2020 at 01:00 pm
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Alimera Sciences, Inc. announced that it refinanced its debt facility by entering into a new $45 million term loan agreement with its current lenders, investment affiliates managed by Solar Capital Partners, LLC, on December 31, 2019. The amount of the new funding includes an initial tranche of $42.5 million used to repay the current facility, including principal, prepayment fees and accrued interest, and another $2.5 million tranche that will be available if Alimera achieves $30.0 million in revenue for any trailing six-month period ending on or before November 30, 2020. The new loan agreement has a term of 54 months to July 1, 2024, with monthly interest-only payments to January 1, 2023, when principal amortization begins. The interest-only period may be extended an additional six months if Alimera achieves $34.5 million in revenue for any trailing six-month period ending on or before June 30, 2022.
Alimera Sciences, Inc. is a global pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic retinal pharmaceuticals. It is engaged in developing and commercializing ILUVIEN for the treatment of diabetic macular edema (DME), a cause of blindness, and outside the United States for non-infectious uveitis affecting the posterior segment of the eye (NIU-PS). ILUVIEN is a sustained-release intravitreal implant that enables patients to maintain vision longer, and importantly, with fewer injections. ILUVIEN is an intravitreal implant that treats patients by delivering a continuous micro dose of the corticosteroid fluocinolone acetonide (FAc) in the eye, for up to 36 months. ILUVIEN is inserted into the back of the patient's eye in a non-surgical procedure employing a device with a 25-gauge needle, which allows for a self-sealing wound. DME is also treated by laser photocoagulation, a retinal procedure in which a laser is used to apply a burn.
Alimera Sciences, Inc. Refinances Its Debt Facility by Entering into A New $45 Million Term Loan Agreement with Its Current Lenders, Investment Affiliates Managed by Solar Capital Partners, LLC, on December 31, 2019
ALIMERA SCIENCES, INC. 
