Feb 13 (Reuters) - Sientra Inc :
* SIENTRA TO PURSUE STRATEGIC SALE OF ITS BUSINESS THROUGH VOLUNTARY CHAPTER 11 PROCESS
* SIENTRA TO PURSUE STRATEGIC SALE OF ITS BUSINESS THROUGH VOLUNTARY CHAPTER 11 PROCESS
* SEEKS TO EXECUTE AN EXPEDITED SALE PROCESS
* INTENDS TO PURSUE A SALE OF ITS BUSINESS UNDER SECTION 363 OF BANKRUPTCY CODE,
* WILL UTILIZE EXISTING CASH RESERVES AND $22.5 MILLION IN NEW MONEY DEBTOR-IN-POSSESSION FINANCING FROM EXISTING LENDERS TO FACILITATE SALE
* DEBTOR-IN-POSSESSION FINANCING WILL ALSO INCLUDE A "ROLL UP" OF $67.5 MILLION OF SIENTRA'S PREPETITION DEBT OBLIGATIONS
* WILL CONTINUE TO OPERATE ITS BUSINESS DURING THIS PROCESS
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