Armstrong Flooring Inc (AFIIQ)

[diamondguru-one]

over $1.00 next week ???? hmmmmm

Armstrong Flooring In Tentative Deal for $24M Bankruptcy Loan -- Market Talk
3:38 pm ET May 13, 2022 (Dow Jones) Print
1538 ET -
Armstrong Flooring has reached a tentative settlement that will provide $24M in new financing to support a sale process in its chapter 11 bankruptcy. Existing secured lenders Pathlight Capital LP and Bank of America Corp. had opposed a new $30M proposed loan from JMB Capital Partners Lending LLC. But in the US Bankruptcy Court in Wilmington, Del., Friday, Armstrong lawyer Ron Meisler said Pathlight and Bank of America had worked constructively with the vinyl tiles maker in recent days to reach an agreement, and that JMB Capital also had been supportive. They expect to finalize terms soon and will return to court Monday afternoon for approval. Meisler said Armstrong will also get the $14M it has sought to pay vendors. ([e-mail] ; @beckyyerak)

(END) Dow Jones Newswires
May 13, 2022 15:38 ET (19:38 GMT)
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