FGI Provides InterCloud Facility
InterCloud Systems signed a definitive agreement for a new facility from Faunus Group International (FGI). This new $15 million facility is secured by the consolidated accounts receivable of InterCloud and its subsidiaries and is subject to final closing conditions.
“This new facility increases our financial flexibility and provides additional working capital to support our growth plans. Our team spent the last several months researching financial institutions that have the ability to grow with InterCloud, offer competitive rates, and that understand our business and growth strategy. We are pleased to begin this financial partnership with FGI and their support of our plans,” said InterCloud CEO, Mark Munro.
Aegis Capital Corp acted as exclusive placement agent in connection with the facility.
InterCloud Systemsis a single-source provider of end-to-end IT and next-generation network solutions to the telecommunications service provider and corporate enterprise markets through cloud-centric solutions and services.