Aimed at strengthening its financial position
during the uncertainties associated with the current pandemic, Anika
Therapeutics (NASDAQ:ANIK) is drawing $50M from its existing credit facility, beefing up its total liquidity to ~$140M.
It potentially has another $50M per an accordion
feature and it is exploring additional funding sources since it wants to
maintain its business and staff during COVID-19. It has implemented a
number of short-term expense controls as well.
Shares down 3% after hours.
https://seekingalpha.com/news/3559480-anika-therapeutics-beefs-up-liquidity-amid-covidminus-19-disruptions
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