AUSTIN, Texas--(BUSINESS WIRE)--ArthroCare Corp. (OTC: ARTC.PK) announced that it received a waiver today from the Lenders and the Administrative Agent under its Credit Agreement of the event of default relating to the delisting of the Company’s stock. Under the terms of the waiver, the Company has prepaid $10 million of the principal amount (plus accrued and unpaid interest) outstanding under the Credit Agreement. The other terms of the waiver are substantially identical to the waiver granted on November 26, 2008. Management believes that, following the partial repayment under the Credit Agreement, based on the Company’s current operating and capital expenditure forecasts, the combination of funds currently available and funds to be generated from operations will be adequate to finance the Company’s ongoing operations for the short and long-term.
