Attunity Extends Repayment of Convertible Notes
Poster: SySAdmin
Posted on March 25, 2010 at 7:07:01 AM
Attunity Extends Repayment of Convertible Notes
BURLINGTON, Massachusetts, March 25, 2010-- Attunity Ltd. (OTC Bulletin Board: ATTUF.OB), a leading provider of
real-time data integration and event capture software, announced today that
is has entered into an extension agreement with the holders of its
Convertible Promissory Notes due November 4, 2010.
Under the extension agreement, the maturity date of the Convertible Notes
will be extended from November 4, 2010, such that the aggregate principal
amount of the Convertible Notes (currently, $2 million) will become due and
payable in six equal quarterly installments of $333,333 starting from
November 4, 2010. Other key terms of the extension agreement, as approved by
Attunity' s shareholders on December 31, 2009 include a change of the
interest rate from an annual rate of a floating annual rate of the LIBOR rate
plus five percent (5%) to a fixed annual rate of nine percent (9%), payable
in cash together with the applicable payments of principal.
Dror Harel-Elkayam Attunity' s VP Finance, stated, "We are pleased with
the confidence our holders of convertible notes have placed in the Company as
evidenced by the extension of the maturity date. We believe that this
agreement, along with previous financing activities we implemented during
2009, further improves our cash and working capital position."
About Attunity
Attunity is a leading provider of real-time data integration and event
capture software. Using our software solutions such as Attunity Connect, a
real-time connectivity software, or Attunity Stream, our log-based, real-time
change-data-capture software, Attunity's customers enjoy dramatic business
benefits by driving down the cost of managing their operational systems,
creating flexible, service-based architectures for increased business
agility, and by detecting critical actionable business events, as they
happen, for faster business execution.
Attunity has supplied innovative software solutions to its
enterprise-class customers for nearly 20 years and has successful deployments
at thousands of organizations worldwide. Attunity provides software directly
and indirectly through a number of strategic and OEM agreements with partners
such as Microsoft, Oracle, IBM, HP and SAP/Business Objects. Headquartered in
Boston, Attunity serves its customers via offices in North America, Europe,
and Asia Pacific and through a network of local partners. For more
information, visit http://www.attunity.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal Securities laws. Statements preceded by,
followed by, or that otherwise include the words "believes", "expects",
"anticipates", "intends", "estimates", "plans", and similar expressions or
future or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical facts. For
example, when we discuss the cash and working capital position, we are using
a forward-looking statement. Because such statements deal with future events,
they are subject to various risks and uncertainties and actual results could
differ materially from Attunity's current expectations. Factors that could
cause or contribute to such differences include, but are not limited to: the
impact on revenues of economic and political uncertainties and weaknesses in
various regions of the world, including the commencement or escalation of
hostilities or acts of terrorism; our liquidity challenges and the need to
raise additional capital in the near future which may not be available to us
on acceptable terms or at all; any unforeseen developmental or
technological difficulties with regard to Attunity's products; changes in the
competitive landscape, including new competitors or the impact of competitive
pricing and products; a shift in demand for products such as Attunity's;
unknown factors affecting third parties with which Attunity has formed
business alliances; timely availability and customer acceptance of Attunity's
new and existing products; and other factors and risks on which Attunity may
have little or no control. This list is intended to identify only certain of
the principal factors that could cause actual results to differ. For a more
detailed description of the risks and uncertainties affecting Attunity,
reference is made to Attunity's Annual Report on Form 20-F for the year ended
December 31, 2008, which is on file with the Securities and Exchange
Commission (SEC) and the other risk factors discussed from time to time by
Attunity in reports filed or furnished to the SEC. Except as otherwise
required by law, Attunity undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
(c) 2010 Attunity Ltd. All rights reserved. Attunity is a trademark of
Attunity Inc.
For more information, please contact:
Dror Elkayam, VP Finance
Attunity Ltd.
Tel. +972-9-899-3000
dror.elkayam@attunity.com
Source: Attunity
For more information, please contact: Dror Elkayam, VP Finance, Attunity Ltd., Tel. +972-9-899-3000, dror.elkayam@attunity.com
BURLINGTON, Massachusetts, March 25, 2010-- Attunity Ltd. (OTC Bulletin Board: ATTUF.OB), a leading provider of
real-time data integration and event capture software, announced today that
is has entered into an extension agreement with the holders of its
Convertible Promissory Notes due November 4, 2010.
Under the extension agreement, the maturity date of the Convertible Notes
will be extended from November 4, 2010, such that the aggregate principal
amount of the Convertible Notes (currently, $2 million) will become due and
payable in six equal quarterly installments of $333,333 starting from
November 4, 2010. Other key terms of the extension agreement, as approved by
Attunity' s shareholders on December 31, 2009 include a change of the
interest rate from an annual rate of a floating annual rate of the LIBOR rate
plus five percent (5%) to a fixed annual rate of nine percent (9%), payable
in cash together with the applicable payments of principal.
Dror Harel-Elkayam Attunity' s VP Finance, stated, "We are pleased with
the confidence our holders of convertible notes have placed in the Company as
evidenced by the extension of the maturity date. We believe that this
agreement, along with previous financing activities we implemented during
2009, further improves our cash and working capital position."
About Attunity
Attunity is a leading provider of real-time data integration and event
capture software. Using our software solutions such as Attunity Connect, a
real-time connectivity software, or Attunity Stream, our log-based, real-time
change-data-capture software, Attunity's customers enjoy dramatic business
benefits by driving down the cost of managing their operational systems,
creating flexible, service-based architectures for increased business
agility, and by detecting critical actionable business events, as they
happen, for faster business execution.
Attunity has supplied innovative software solutions to its
enterprise-class customers for nearly 20 years and has successful deployments
at thousands of organizations worldwide. Attunity provides software directly
and indirectly through a number of strategic and OEM agreements with partners
such as Microsoft, Oracle, IBM, HP and SAP/Business Objects. Headquartered in
Boston, Attunity serves its customers via offices in North America, Europe,
and Asia Pacific and through a network of local partners. For more
information, visit http://www.attunity.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal Securities laws. Statements preceded by,
followed by, or that otherwise include the words "believes", "expects",
"anticipates", "intends", "estimates", "plans", and similar expressions or
future or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical facts. For
example, when we discuss the cash and working capital position, we are using
a forward-looking statement. Because such statements deal with future events,
they are subject to various risks and uncertainties and actual results could
differ materially from Attunity's current expectations. Factors that could
cause or contribute to such differences include, but are not limited to: the
impact on revenues of economic and political uncertainties and weaknesses in
various regions of the world, including the commencement or escalation of
hostilities or acts of terrorism; our liquidity challenges and the need to
raise additional capital in the near future which may not be available to us
on acceptable terms or at all; any unforeseen developmental or
technological difficulties with regard to Attunity's products; changes in the
competitive landscape, including new competitors or the impact of competitive
pricing and products; a shift in demand for products such as Attunity's;
unknown factors affecting third parties with which Attunity has formed
business alliances; timely availability and customer acceptance of Attunity's
new and existing products; and other factors and risks on which Attunity may
have little or no control. This list is intended to identify only certain of
the principal factors that could cause actual results to differ. For a more
detailed description of the risks and uncertainties affecting Attunity,
reference is made to Attunity's Annual Report on Form 20-F for the year ended
December 31, 2008, which is on file with the Securities and Exchange
Commission (SEC) and the other risk factors discussed from time to time by
Attunity in reports filed or furnished to the SEC. Except as otherwise
required by law, Attunity undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
(c) 2010 Attunity Ltd. All rights reserved. Attunity is a trademark of
Attunity Inc.
For more information, please contact:
Dror Elkayam, VP Finance
Attunity Ltd.
Tel. +972-9-899-3000
dror.elkayam@attunity.com
Source: Attunity
For more information, please contact: Dror Elkayam, VP Finance, Attunity Ltd., Tel. +972-9-899-3000, dror.elkayam@attunity.com