secwatch.observer — SEC 8-K summary
======================================

Issuer:     ALIMERA SCIENCES INC (—)
CIK:        0001267602
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001267602-23-000018
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.01, 3.02, 3.03, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alimera raises $12M via Series B preferred, eliminates Series A preference, receives Nasdaq deficiency notice
--------------------------------------------------------------------------------

- Entered purchase agreement with Velan and Caligan for up to $27M; first tranche closed at $12M with 12,000 Series B shares at $1,000 each.
- Repurchased all Series A preferred for ~$1.25M, eliminating ~$24M liquidation preference; Series A shares retired.
- Fifth Amendment to SLR credit facility adds $2.5M new term loan (up to $47.5M) and extends maturity to Apr 2028; additional $15M available at lender discretion.
- Received Nasdaq deficiency notice for market value of publicly held shares below $15M; has until Sep 19, 2023 to regain compliance.
- Directors Jim Largent and Roger Sawhney resigned; Mike Kaseta and Adam Morgan appointed to board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1267602/000126760223000018/0001267602-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1267602/000126760223000018/alim-20230323x8k.htm
  HTML page:      https://secwatch.observer/filing/0001267602-23-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer