Raining Data Corporation Announces Debt Conversion
October 05 2007 - 10:08AM
PR Newswire (US)
IRVINE, Calif., Oct. 5 /PRNewswire-FirstCall/ -- Raining Data
Corporation (NASDAQ:RDTA) today announced that the company
received, at 6:54 pm PDT on October 4, 2007, an irrevocable debt
conversion notice from Astoria Capital Partners, LP related to the
outstanding 5% Convertible Subordinated Note Due 2008 issued on
January 30, 2003. The outstanding principal and accrued interest
due to Astoria Capital Partners, LP at the time of receipt of the
irrevocable debt conversion notice is approximately $23 million. In
accordance with the terms of the Convertible Subordinated Note the
outstanding debt is convertible into Common Stock at a price of
$5.00 per share. About Raining Data Raining Data Corporation
(NASDAQ:RDTA), headquartered in Irvine, California, offers
enterprise-grade XML database management and information
aggregation software solutions and has been providing reliable data
management and rapid application deployment solutions for ISVs and
developers of database applications for more than three decades.
Raining Data's flagship products include: 1) The High-performance
TigerLogic(R) XML Data Management Server (XDMS), which provides
flexible, scalable and extensible XML data storage as well as query
and retrieval of critical business data across a variety of
structured and unstructured information sources, delivering
mid-tier scalability and transactional integrity across
heterogeneous enterprise databases as well as dynamic extensibility
and ease of use, mostly found in repositories and file systems; 2)
Powerful Pick(R) Universal Data Model (Pick UDM) based database
management systems and components, including D3(R), mvEnterprise(R)
and mvBase(R) that are the choice of more than a thousand
application developers worldwide and .NET Integration components
including the Pick Data Provider for .NET and the Pick Reporting
Services Connector; and 3) Omnis Studio(R), a powerful,
cross-platform, object-oriented RAD tool for developing
sophisticated thick-client, Web-client or ultra thin-client
database applications. Raining Data's installed customer base
includes more than 500,000 active users representing over 20,000
customer sites worldwide, with a significant base of diverse
vertical applications. With more than 100 employees and contractors
worldwide, Raining Data offers 24x7 customer support services and
maintains a strong international presence. More information about
Raining Data Corporation and its products can be found at
http://www.rainingdata.com/. Raining Data, Pick, mvDesigner, D3,
mvEnterprise, mvBase, Omnis, Omnis Studio and TigerLogic are
trademarks of Raining Data Corporation. All other trademarks and
registered trademarks are properties of their respective owners.
DATASOURCE: Raining Data Corporation CONTACT: Thomas G. Lim, Chief
Financial Officer of Raining Data Corporation, +1-949-442-4400,
fax, +1-949-250-8187, Web site: http://www.rainingdata.com/
Copyright
Raining Data (NASDAQ:RDTA)
Historical Stock Chart
From May 2024 to Jun 2024
Raining Data (NASDAQ:RDTA)
Historical Stock Chart
From Jun 2023 to Jun 2024