CAMPBELL, CA--(Marketwired - Aug 25, 2016) - Inventergy Global, Inc. (
As part of the amendment, Inventergy was provided a moratorium on monthly debt amortization payments until September 30, 2016. Inventergy will also not be required to maintain a minimum cash balance of $1 million until September 30, 2016, and was allowed to retain the majority of the cash from a recently received license installment payment. Additional information about the terms of the amendment is available in the Form 8-K filed by Inventergy with the Securities and Exchange Commission and available at www.sec.gov.
Joe Beyers, Chairman and CEO of Inventergy said, "With the support from Fortress, we have been able to collaboratively restructure the debt agreement to provide us more flexibility in executing on our long-term goals. Fortress has been a solid business partner and recognizes that this near-term cash flow relief during our monetization discussions with third parties is critical to our mutual success. We anticipate meaningful results in the coming weeks."
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
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