Fusion Telecommunications plans $3 million private placement of equity

Company also increases permissible capital lease debt to $7 million

By Devika Patel

Knoxville, Tenn., Aug. 13 – Fusion Telecommunications International, Inc. agreed to sell $3 million of its equity securities in a private placement, according to a 10-Q filed Thursday with the Securities and Exchange Commission.

The sale is being conducted to appease the company’s senior lenders. The lenders agreed to allow the company to amend its debt to increase its permissible capital lease debt to $7 million.

Fusion is a telecommunications company based in New York.

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