Endologix, Inc. (Nasdaq: ELGX) (the Company), a developer and marketer of innovative treatments for aortic disorders, today announced that it has entered into a definitive agreement to raise approximately $52 million gross cash proceeds through the issuance of approximately 7.9 million new shares of the Companys common stock at a purchase price of $6.61 per share. The Companys net proceeds, after payment of estimated financial advisor fees but before other transaction expenses, is expected to be approximately $49 million. The primary use of this capital will be for working capital and general corporate purposes.
In a separate transaction, the Company also entered into an exchange agreement with two holders of the Companys 3.25% Senior C…
Read the full article at: https://www.globalbankingandfinance.com/endologix-announces-equity-financing-of-52-million-and-debt-restructuring-addressing-2020-maturities-and-financial-covenants/