|By Marketwired .||
|June 18, 2014 08:06 PM EDT||
PLEASANTON, CA -- (Marketwired) -- 06/18/14 -- Callidus Software Inc. (NASDAQ: CALD), a leading provider of sales and marketing effectiveness software, completed the conversion of all outstanding 4.75% Convertible Senior Notes due 2016 ("Notes").
The Notes were originally issued in 2011 pursuant to an indenture between Callidus Software Inc. and Wells Fargo Bank, N.A., as trustee. The aggregate Note principal of $14.2 million converted into approximately 1.8 million shares of common stock.
"We are pleased with the return that the conversion provides to bond holders," said Bob L. Corey, senior vice president and chief financial officer, CallidusCloud. "We believe that the conversion of all Notes during the recent quarters represents investor confidence in our long-term prospects for maximizing shareholder value and our lead to money strategy."
Twitter: @calliduscloud, @calliduscloudIR
Callidus Software Inc. (NASDAQ: CALD), doing business as CallidusCloud®, is the leading provider of sales and marketing effectiveness software. CallidusCloud enables organizations to accelerate and maximize their lead to money process with a complete suite of solutions that identify the right leads, ensure proper territory and quota distribution, enable sales forces, automate configure price quote, and streamline sales compensation -- driving bigger deals, faster. Over 2500 leading organizations, across all industries, rely on CallidusCloud to optimize the lead to money process to close more deals for more money in record time.
For more information, please visit www.calliduscloud.com.
Note on Forward-Looking Statements
The forward-looking statements included in this press release, including long-term prospects, reflect management's best judgment based on factors currently known and involve risks and uncertainties. These risks and uncertainties include, but are not limited to, potential disruption of customer purchase decisions resulting from global economic conditions, timing and size of orders, relative growth of our recurring revenue, potential decreases in customer spending, uncertainty regarding purchasing trends in the cloud software market, customer cancellations or non-renewal of maintenance contracts or on-demand services, our potential inability to manage effectively any growth we experience, our ability to develop new products and services, increased competition or new entrants in the marketplace, potential impact of acquisitions and investments, changes in staffing levels, and other risks detailed in periodic reports we file with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K which may be obtained by contacting CallidusCloud's Investor Relations department at 415-445-3238, or from the Investor Relations section of CallidusCloud's website (http://www.calliduscloud.com/about-us/investor-relations/ ). Actual results may differ materially from those presently reported. We assume no obligation to update the information contained in this release.
©2014. Callidus Software Inc. All rights reserved. Callidus, Callidus Software, the Callidus Software logo, CallidusCloud, the CallidusCloud logo, TrueComp Manager, ActekSoft, ACom3, iCentera, Webcom, Litmos, the Litmos logo, LeadFormix, Rapid Intake, 6FigureJobs and LeadRocket are trademarks, service marks, or registered trademarks of Callidus Software Inc.
LEWIS PR for CallidusCloud
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
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