Raining Data Corporation Announces Additional Debt Conversion
October 09 2007 - 8:00AM
PR Newswire (US)
IRVINE, Calif., Oct. 9 /PRNewswire-FirstCall/ -- Raining Data
Corporation (NASDAQ:RDTA) today announced that the company received
an irrevocable debt conversion notice from GFAM Hedge Partnership
related to the outstanding 5% Convertible Subordinated Note Due
2008 issued on October 1, 2005. The outstanding principal and
accrued interest due to GFAM Hedge Partnership at the time of
receipt of the irrevocable debt conversion notice is approximately
$1 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/. Except for the historical statements
contained herein, the foregoing release may contain forward-looking
statements. These forward-looking statements are subject to risks
and uncertainties, and actual results could differ materially due
to several factors, including but not limited to the success of the
Company's research and development efforts to develop new products
and to penetrate new markets, the market acceptance of the
Company's new products and updates, technical risks related to such
products and updates, the Company's ability to maintain market
share for its existing products, the availability of adequate
liquidity and other risks and uncertainties. Please consult the
various reports and documents filed by Raining Data Corporation
with the U.S. Securities and Exchange Commission, including but not
limited to the Company's most recent reports on Form 10-KSB and
Form 10-QSB for factors potentially affecting the Company's future
financial results. All forward-looking statements are made as of
the date hereof and the Company disclaims any responsibility to
update or revise any forward-looking statement provided in this
news release. The Company's results for the quarter ended June 30,
2007 are not necessarily indicative of the Company's operating
results for any future periods. 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, or
Fax, +1-949-250-8187, Web site: http://www.rainingdata.com/
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