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Fusion Secures $15MM Bridge Financing as It Continues to Review Strategic Options to Enhance Capital Structure

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Fusion, a leading provider of cloud services, announced that it has entered into a bridge facility agreement with certain of its first lien lenders (together, the “Ad Hoc Lenders”).

This new facility provides an injection of $15.0 million of new capital that will allow Fusion and its key stakeholders to continue to evaluate and pursue a strategic path that will best position the Company for the future. In addition, the Company has the right to request up to an additional $5.0 million under the facility.  As previously disclosed, the Company is engaged in discussions with its first and second lien lenders and other stakeholders regarding strategic alternatives to enhance the Company’s capital structure and best position its business for future growth.

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“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 Chief Executive Officer.

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Fusion is advised in this process by FTI Consulting and PJT Partners, Inc. as financial advisors and Weil, Gotshal & Manges LLP as legal advisor. The Ad Hoc Lenders are advised by Greenhill and Co., LLC and Davis Polk & Wardwell LLP.

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