UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
March 22, 2005
Date of Report (Date of Earliest Event Reported)
CONVERA CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 000-31989 54-1987541
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of incorporation) Identification No.)
1921 GALLOWS ROAD, SUITE 200
VIENNA, VIRGINIA 22182
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(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (703) 761-3700
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
_____ Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
_____ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
_____ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
_____ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.03. Creation of a Direct Financial Obligation
On March 22, 2005, Convera Corporation (NASDAQ: CNVR), has secured a $5
million equipment loan from Silicon Valley Bank, the primary subsidiary of
Silicon Valley Bancshares (NASDAQ: SIVB). The four-year, term facility will
provide financing for capital purchases including those for its Web indexing
initiative. The loan is secured by a first lien on all corporate assets,
excluding intellectual property.
Item 9.01(c). Financial Statements and Exhibits
99.1 Press Release of Convera Corporation dated March 28, 2005
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereto duly authorized.
CONVERA CORPORATION
By: /s/ JOHN R. POLCHIN
John R. Polchin
Chief Financial Officer
Date: March 28, 2005
Exhibit 99.1
Contact:
John R. Polchin
Chief Financial Officer
Convera
703.761.3700
Convera Secures $5 Million Equipment Loan
Vienna, Va., March 28, 2005 - Convera Corporation (NASDAQ: CNVR), a leading
provider of search and categorization software for enterprises and government
agencies, today announced that it has secured a $5 million equipment loan from
Silicon Valley Bank, the primary subsidiary of Silicon Valley Bancshares
(NASDAQ: SIVB). The four-year, term facility will provide financing for capital
purchases including those for its Web indexing initiative. The loan is secured
by a first lien on all corporate assets, excluding intellectual property.
About Convera Convera is a leading provider of mission-critical enterprise
search and categorization solutions. Convera's RetrievalWare solutions maximize
return on investment in vast stores of unstructured information by providing
highly scalable, fast, accurate and secure search across more than 200 forms of
text, video, image and audio information, in more than 45 languages. More than
900 customers in 33 countries rely on Convera's search solutions to power a
broad range of applications including enterprise portals, knowledge management,
intelligence gathering, profiling, corporate policy compliance, regulatory
compliance, customer service and more. For more information, contact Convera at
800-788-7758, via e-mail at info@convera.com or on the Web at www.convera.com
About Silicon Valley Bank Silicon Valley Bank provides diversified financial
services to emerging growth and mature companies in the technology, life
sciences, private equity and premium wine industries. Through its focus on
specialized markets and extensive knowledge of the people and business issues
driving them, Silicon Valley Bank provides a level of service and partnership
that measurably impacts its clients' success. Founded in 1983 and headquartered
in Santa Clara, Calif., the company serves nearly 10,000 clients around the
world through 27 domestic offices and two international subsidiaries in the U.K.
and India. Silicon Valley Bank's Southeast region serves nearly 500 clients of
all sizes in eleven Southeastern states. More information on the company can be
found at www.svb.com.
This release contains statements about Convera's future expectations,
performance, plans, and prospects, as well as assumptions about future events.
The reader is cautioned not to put undue reliance on these forward-looking
statements, as these statements are subject to numerous factors and
uncertainties, including without limitation, business and economic conditions
and trends; the ability to continue funding operating losses; fluctuations in
operating results including impacts from reduced corporate IT spending and
lengthier sales cycles; continued success in technological advances and
development including the Web indexing initiative; possible disruption in
commercial activities caused by terrorist activity and armed conflict, such as
changes in logistics and security arrangements; reduced customer demand relative
to expectations; competitive factors; and other risk factors listed from time to
time in the company's SEC reports. Actual results may differ materially from our
expectations as the result of these and other important factors relating to
Convera's business and product development efforts, which are further described
in Convera's filings with the Securities and Exchange Commission. These filings
can be obtained from the SEC's website located at www.sec.gov. Any
forward-looking statements are based on information available to Convera on the
date of this release, and Convera assumes no obligation to update such
statements. The Convera design logo and the following are worldwide trademarks
of Convera: Convera(TM), RetrievalWare(R), and Screening Room(R). The names of
actual companies and products mentioned herein may be the trademarks of their
respective owners.