Vonage: Show Me the Money

So close. And yet, not quite there. Vonage Holdings Corp. (VG)  is this far away from refinancing nearly all of its $253 million debt that comes due in December. Jeffrey Citron must be salivating at the thought, but sweating a little, too. That’s because a group of investors has said it will provide “up to” $215 million if other financiers come through with additional money. Imagine the behind-the-scenes scurrying over those negotiations...

In the meantime, Vonage continues to pump millions of dollars into TV advertising. (Anyone else sick of the snarky “old phone company” ads?) But if that’s what it takes to get more subscribers, maybe the pure-play VoIP provider – whose business model many analysts and investors shook their heads over long ago – stands a chance at survival.

San Diego Union-Tribune: Vonage says has commitment for up to $215 million debt

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