EXHIBIT 99.1
[LOGO OMITTED]
CONCURRENT
FOR IMMEDIATE RELEASE
CONCURRENT RAISES $14 MILLION THROUGH A PRIVATE PLACEMENT
ATLANTA, GEORGIA, MAY 16, 2007 - Concurrent (Nasdaq: CCUR), a worldwide leader
of on-demand technology and real-time computing technology, today announced that
it has entered into definitive agreements with a group of accredited investors
to sell in a private placement 11,200,000 shares of its common stock and
warrants to issue up to 2,800,000 shares of common stock. Gross proceeds to
Concurrent from the sale of the shares of common stock and warrants are expected
to be $14 million. The purchase price for each share of common stock and the
related warrant is $1.25. The warrants will have an exercise price of $1.62 per
share.
Concurrent plans to use the proceeds of the private placement for general
corporate purposes including working capital and capital expenditures.
Neither the shares of Concurrent's common stock nor the warrants to be issued in
connection with the private placement have been registered under the Securities
Act of 1933, as amended. Accordingly, these securities may not be offered or
sold in the United States, except pursuant to an effective registration
statement or an applicable exemption from the registration requirements of the
Securities Act of 1933, as amended. Concurrent has agreed to file a registration
statement covering the resale of the common stock as well as the common stock
which can be acquired upon exercise of warrants issued in connection with the
private placement. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy such common stock or warrants.
ABOUT CONCURRENT
Concurrent (NASDAQ: CCUR) is a leading provider of high-performance, real-time
Linux software and solutions for commercial and government markets. For 40 years
Concurrent's best-of-breed products have enabled a range of time-critical
solutions including: modeling and simulation, high speed data acquisition,
visual imaging, low latency transaction processing and on-demand television.
Concurrent's on-demand television applications are utilized by major service
providers in the cable and IPTV industries to deliver video-on-demand (VOD) and,
through subsidiary company Everstream, provide performance measurement systems
for interactive media. Concurrent is a global company with regional offices in
North America, Europe, Asia and Australia, and has products actively deployed in
more than 24 countries. Concurrent's products and services are recognized for
being uniquely flexible, comprehensive, robust and reliable. For more
information, please visit www.ccur.com.
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FORWARD-LOOKING STATEMENTS
Certain statements made in this release may constitute "forward-looking
statements" within the meaning of the federal securities laws. Statements
regarding future events and developments, as well as our expectations, beliefs,
plans, estimates, or projections relating to the future, are forward-looking
statements within the meaning of these laws. These statements include, among
others, statements regarding the closing of the private placement, the use of
proceeds therefrom, and the registration of the shares offered in the private
placement. All forward-looking statements are subject to certain risks and
uncertainties that could cause actual events to differ materially from those
projected.
Important risk factors are discussed in our Form 10-K filed with the Securities
and Exchange Commission (the SEC) on September 1, 2006 and our Form 10-Q for the
third quarter of 2007 filed with the SEC on May 7, 2007 and may be discussed in
subsequent filings with the SEC. The risk factors discussed in such Form 10-K
and Form 10-Q under the heading "Risk Factors" are specifically incorporated by
reference in this press release. Our forward-looking statements are based on
current expectations and speak only as of the date of such statements. We
undertake no obligation to publicly update or revise any forward-looking
statement, whether as a result of future events, new information, or otherwise.
Concurrent Computer Corporation and its logo and Everstream and its logo are
registered trademarks of Concurrent Computer Corporation. All other Concurrent
product names are trademarks of Concurrent while all other product names are
trademarks or registered trademarks of their respective owners. Linux(R) is used
pursuant to a sublicense from the Linux Mark Institute.
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For more information, contact:
Concurrent Investor Relations
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Kirk Somers, Executive Vice President
678.258.4000
investor.relations@ccur.com
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