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Alimera Sciences Secures $20 Million Debt Facility
Date:5/8/2013

ATLANTA, May 8, 2013 /PRNewswire/ -- Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, announced today that its United Kingdom subsidiary, Alimera Sciences Limited, has entered into a Loan and Security Agreement with Silicon Valley Bank (SVB) providing for a term loan in the principal amount of $5 million and up to an additional $15 million under a working capital line of credit. 

The proceeds of the term loan will provide additional working capital for general corporate purposes. The line of credit will be utilized to finance accounts receivable in the United Kingdom, Germany and France, and replaces the current $20 million line of credit previously provided by SVB to finance accounts receivable in the United States.

"This debt facility strengthens our financial position for the commercialization of ILUVIEN® in the United Kingdom, Germany and France," said Dan Myers , Alimera's president and chief executive officer.  "In addition, this provides additional resources as we evaluate our expansion plans in Europe."

The term loan provides for interest only payments for six months followed by 36 monthly payments of interest, plus principal. Interest on outstanding borrowings under the term loan is payable at the rate of 7.5%. No advances were made at the closing under the working capital line of credit. Borrowings under the working capital line of credit will be advanced at 80% of eligible accounts receivable. Inte
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SOURCE Alimera Sciences, Inc.
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