Concurrent Computer Corp, Tinton Falls, New Jersey is having to turn over 70% ownership in the company to its bondholders to persuade them to convert the current $110.6m of 14.25% notes into $55m of new senior notes paying about 13%, plus convertible participating stock representing 70% of the voting equity; it must get 98% acceptance. It has been paying current interest on its senior bank debt and has resumed making principal payments to its banks.
