Pathlight Capital Announces $70,000,000 Term Loan to Armstrong Flooring

Pathlight Capital LP (“Pathlight”) announced it is serving as the Administrative Agent on the recently funded $70,000,000 Senior Secured Term Loan facility for Armstrong Flooring, Inc. (“Armstrong” or the “Company”), a global manufacturer of innovative flooring solutions serving customers in commercial and residential markets.

The Term Loan, which was completed and funded on June 23, 2020, will be used for business transformation and growth initiatives, working capital needs and general corporate purposes.

“We are excited to work with Pathlight in the transformation of Armstrong Flooring, Inc.,” said Michel S. Vermette, President and CEO of Armstrong. “Their support will facilitate the execution of our customer centric strategic plan and overall business improvement. We are very thankful that Pathlight tailored financing that augmented our liquidity and provides us flexibility in the current business environment so we can realize our business priorities.”

“Armstrong has been a leader in the flooring industry for decades, and we are excited to support them in strengthening their competitive market position,” said David Helmes, Managing Director of Pathlight Capital. “It was a pleasure working with this management team to customize a credit facility and provide additional liquidity for the Company to execute its business objectives.”

About Pathlight Capital: Pathlight Capital is a privately held commercial finance company dedicated to meeting the needs of companies that operate across a broad range of industries by providing asset-based loans secured on a first or second lien basis against tangible and intangible assets. Pathlight provides creative financing solutions to allow management teams to access incremental liquidity for the purposes of funding working capital, debt refinancings, growth, acquisitions, dividends and turnaround strategies. For more information, please visit www.pathlightcapital.com.

About Armstrong Flooring

Armstrong Flooring, Inc. (NYSE: AFI) is a global leader in the design and manufacture of innovative flooring solutions. Headquartered in Lancaster, Pennsylvania, the Company safely and responsibly operates 8 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. Learn more at www.armstrongflooring.com.