March 23, 2020 / 11:55 AM / 5 days ago

BRIEF-Conformis Announces Actions To Mitigate COVID-19 Impact

March 23 (Reuters) - Conformis Inc:

* CONFORMIS ANNOUNCES ACTIONS TO MITIGATE COVID-19 IMPACT

* CONFORMIS INC - WITHDRAWS PREVIOUS 2020 GROWTH OUTLOOK

* CONFORMIS INC - IMPLEMENTING FURLOUGH OF APPROXIMATELY 1/3 OF ITS DIRECT WORKFORCE AND SUBSTANTIALLY ALL OF ITS TEMPORARY WORKFORCE

* CONFORMIS - CONTINUING TO PRODUCE BACKLOG ORDERS & NEW ORDERS; INTERRUPTIONS IN SUPPLY CHAIN ARE NOT CURRENTLY ANTICIPATED

* CONFORMIS - FURLOUGHED EMPLOYEES WILL IMMEDIATELY ELIGIBLE FOR UNEMPLOYMENT BENEFITS & WILL MAINTAIN THEIR EXISTING HEALTHCARE COVERAGE THROUGH CO

* CONFORMIS - ANNOUNCED FURLOUGH OF ABOUT 80 EMPLOYEES & SUBSTANTIALLY ALL TEMPORARY WORKFORCE EFFECTIVE AS OF TODAY

* CONFORMIS - CURRENTLY HAS $20 MILLION TERM LOAN OUTSTANDING & AN UNDRAWN REVOLVING LINE OF CREDIT

* CONFORMIS INC - AT THIS TIME, DO NOT ANTICIPATE DRAWING ON REVOLVING LINE OF CREDIT UNDER CREDIT FACILITY

* CONFORMIS - MAY NOT BE ABLE TO MEET POSITIVE QUARTERLY REVENUE COVENANT

* CONFORMIS - INITIATING DISCUSSIONS WITH INNOVATUS WITH GOAL OF ADJUSTING REVENUE COVENANTS UNDER TERMS OF CREDIT FACILITY Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below