Centura Announces New $5M Line of Credit
centurasoft.com
Redwood Shores, CA. - (Business Wire) - January 23, 1998 - Centura
Software Corporation (NASDAQ;CNTRC) (the "Company") today announced
completion of a loan facility (the "Loan") with Coast Business Credit, a
nationally recognized financial institution specializing in asset
secured financing. The Loan provides for borrowings of up to $5.0
Million , secured by the Company's accounts receivable, combined with a
$0.5 Million capital equipment facility.
Mike Young,, U.S. Technology Markets Manager for Coast Business Credit
commented, "We are very pleased with the progress the new management
team from Hickey and Hill has made in improving the Company's operating
performance and financial structure. We look forward to a long term and
beneficial relationship with Centura".
Scott Broomfiled, Centura's CEO, commented, "The Loan is one of the
first steps we've taken toward establishing levels of liquidity
necessary in the process of turning the Company around. We are quite
pleased to have made this initial step".
About Centura Software
Since its inception in 1984, Centura, formerly known as Gupta
Corporation, has enjoyed a rich history of innovation, creating the
first client/server DBMS for PCs. Its current product lineup includes an
embedded database, SQLBase, and application development tools,
SQLWindows, Centura Team Developer, and Quest/Web. Today, Centura has 26
offices around the world, supporting hundreds of thousands of developers
who embed its tools in application used by more than 1 million end
users. Centura is positioning its client/server products to be WEB
capable and Mobile ready. New Centura products are all Year 2000
Compliant.
Except for the historical information contained herein, the matters
discussed in this news release are forward looking statements that
involve risks and uncertainties, including the timely shipments of new
products, the effect of competitive pressures and the other risks
detailed from time to time in the Company's SEC reports, including the
Annual Report on Form 10-K for the fiscal year ended December 31, 1996
and the Quarterly Reports on Form 10-Q for the quarters ended March 31,
June 30 and September 30, 1997.
For More Information:
Centura Software Corporation
John Bowman
Chief Fiancial Officer
650-596-3400
www.centurasoft.com |
