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PRESS
RELEASE
Contact
Information
RAINING
DATA CORPORATION ANNOUNCES
$8.2 MILLION IN EQUITY INVESTMENT
IRVINE,
CA., December 6, 2000 - Raining Data Corporation (Nasdaq Small
Cap: RDTA), formerly known as Omnis Technology Corporation,
which last week concluded a merger with the Pick Systems corporate
group, announced today the closing of $8.2 million in equity
investment. The financing includes a new $4 million cash infusion
from Astoria Capital Partners L.P. In addition, Astoria Capital
Partners has converted to equity a separate $4.1 million note
for funds advanced to Pick prior to the merger.
About
Raining Data
On
December 1, 2000, a wholly owned subsidiary of Omnis Technology
Corporation merged with PickAx, Inc., making Pick and its corporate
group wholly owned subsidiaries of Omnis. The combined company,
which changed its name to Raining Data Corporation, is headquartered
in Irvine, California. With over 150 employees in five countries,
Raining Data's pro forma combined sales for the fiscal year
ended March 31, 2000 exceeded $23 million.
Omnis
Studio® is a powerful, cross-platform, object-oriented rapid
application development (RAD) tool that is ideally suited for
developing sophisticated thick or thin client-based applications.
PICK Systems created the first multidimensional database management
system, now called D3®, which continues to be the choice for
thousands of application developers worldwide. Together as Raining
Data, the company now offers a comprehensive suite of cost effective
software infrastructure solutions that developers can leverage
to create highly scalable, enterprise-level Web-enabled applications.
The new product platform is designed to meet the needs of Raining
Data's large combined base of existing customers as well as
new e-commerce software developers.
Raining
Data has access to more than 1,500 Value Added Resellers (VARs)
with comprehensive vertical market solutions installed at over
200,000 sites worldwide. Leveraging the company's advanced D3
multidimensional database or any of the contemporary SQL databases
such as Oracle®, Microsoft SQL Server, or IBM DB2, Raining Data
developers can now take full advantage of Omnis Studio's cross-platform,
database independent RAD tools. With client-side applications
automatically deployable to thick, thin, or ultra thin environments,
Raining Data is able to provide customers with a powerful range
of low cost, quick-to-market alternatives.
PLEASE
NOTE: In this news release, statements that are not historical
facts, including but not limited to statements (a) that include
the words "believes," "expects," "anticipates," "estimates''
or words of similar importance or meaning; (b) that describe
any of the Raining Data's (the "Company") or management's plans,
objectives or goals for future operations and products, or (c)
that concern the characteristics and growth of the Company's
markets or customers or products or the expected liquidity and
capital resources of the Company, are forward-looking statements
that are inherently subject to numerous risks and uncertainties.
There can be no assurance that the results described in such
forward-looking statements have been or will be realized. The
principal risk factors that may cause actual results to differ
materially from those expressed in forward-looking statements
in this news release are described in various reports and documents
filed by Raining Data Corporation, formerly known as Omnis Technology
Corporation, with the U.S. Securities and Exchange Commission,
including but not limited to the Annual Report of the Company
on Form 10-KSB/A for the last fiscal year of the Company. The
Company disclaims any responsibility to update or revise any
forward-looking statement provided in this news release.
©2000
Raining Data Corporation. All Rights Reserved. PICK Systems
and D3 are registered trademarks of PICK Systems, Inc. Omnis
is a registered trademark of Omnis Software Limited, a subsidiary
of Raining Data Corporation. Omnis Studio and Omnis 7 are trademarks
of Raining Data Corporation. All other products or service names
mentioned herein are trademarks of their respective owners.
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