May 19, 2020 / 11:42 AM / 9 days ago

BRIEF-Flexion Enters Into Amendment To Credit And Security Agreement

May 19 (Reuters) - Flexion Therapeutics Inc:

* FLEXION THERAPEUTICS INC - ON MAY 18, ENTERED INTO AN AMENDMENT TO OUR CREDIT AND SECURITY AGREEMENT

* FLEXION THERAPEUTICS INC - PURSUANT TO AMENDMENT, WE BORROWED $15.0 MILLION UNDER A NEW TERM LOAN ADVANCE

* FLEXION THERAPEUTICS INC - IMMEDIATELY USED PROCEEDS TO REPAY AN EQUAL AMOUNT UNDER OUR REVOLVING CREDIT FACILITY

* FLEXION THERAPEUTICS INC - MAXIMUM PRINCIPAL AMOUNT OF REVOLVING CREDIT FACILITY WAS REDUCED FROM $20.0 MILLION TO $5.0 MILLION

* FLEXION THERAPEUTICS INC - AT MARCH 31, 2020, TOTAL LIQUIDITY AS DETERMINED UNDER CREDIT AND SECURITY AGREEMENT FOLLOWING AMENDMENT WAS $157.2 MILLION

* FLEXION THERAPEUTICS INC - CONTINUE TO EXPECT TO EXPERIENCE A MATERIAL DECLINE IN REVENUES FOR REMAINDER OF 2020, AND POSSIBLY LONGER Source text: (bit.ly/2WO78Ex) Further company coverage:

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