Fusion has secured $15 million in bridge financing from first-lien lenders.
This agreement will provide Fusion with $15 million of new capital, enabling the company and its key stakeholders to continue to evaluate and pursue a strategic path forward. Fusion has the right to request up to $5 million of additional funding.
Fusion is now engaged in discussions with its first and second lien lenders and other stakeholders regarding strategic alternatives to enhance the company’s capital structure.
“This new agreement is a step forward for our business as it provides additional funding in the short-term to ensure that we can reach the best long-term solution for our business while enabling us to meet our commitments to our employees, customers, partners and suppliers. All options currently being considered will allow us to maintain our business operations without interruption while we work to achieve our financial goals. I am confident the steps we are taking now will position us well for years to come,” said Matthew Rosen, Fusion’s chairman and CEO.