Brief: Butterfly Network Inc Approves Plan For Reducing Operating Expenses And Extending Liquidity

Butterfly Network

11/01/2023 21:56

Jan 11 (Reuters) - Butterfly Network Inc  BFLY.N :
    * BUTTERFLY NETWORK INC - ON JANUARY 4, APPROVED A PLAN FOR
REDUCING OPERATING EXPENSES AND EXTENDING LIQUIDITY
    * BUTTERFLY NETWORK INC - PLAN INCLUDES A REDUCTION IN FORCE
REPRESENTING APPROXIMATELY 25% OF COMPANY'S WORKFORCE
    * BUTTERFLY NETWORK - ESTIMATES THAT IT WILL INCUR BETWEEN
ABOUT
$5 MILLION TO $6 MILLION OF CASH CHARGES RELATED TO EMPLOYEE
SEVERANCE AND BENEFITS COSTS
    * BUTTERFLY NETWORK INC - EXPECTS TO INCUR CASH CHARGES
RELATED TO
EMPLOYEE SEVERANCE AND BENEFITS COSTS IN FIRST AND SECOND
QUARTERS OF 2023

Source: (shorturl.at/jBIQ1)
Further company coverage:  BFLY.N 
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