ARMSTRONG FLOORING ANNOUNCES AMENDMENTS TO ABL AND TERM LOAN FACILITIES; RECEIVES $35 MILLION CAPITAL INFUSION; ANNOUNCES PROCESS FOR SALE OF THE COMPANY AND CONSIDERATION OF OTHER STRATEGIC ALTERNATIVES
Summary
"These credit amendments and additional term loan funding position us well to pursue our strategic initiatives and effectively manage our operations," said Michel Vermette, President and Chief Executive Officer. Headquartered in Lancaster, Pennsylvania, Armstrong Flooring continually builds on its resilient, 150-year legacy by delivering on its mission to create a stronger future for customers through adaptive and inventive solutions. The company safely and responsibly operates seven manufacturing facilities globally, working to provide the highest levels of service, quality, and innovation to ensure it remains as strong and vital as its 150-year heritage. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated, or implied is included in our reports filed with the U.S. Securities and Exchange Commission. You are encouraged to carefully review the Current Report on Form 8-K that the Company expects to file with the U.S. Securities and Exchange Commission on Monday, January 3, 2022, as it will contain important information regarding the matters discussed in this press release.