Key Developments For Overland Storage, Inc.
Overland Storage, Inc. (OVRL.O) (Consolidated Issue listed on NASDAQ Global Market)
Overland Storage, Inc. Prices Public Offering of Common Stock
Overland Storage, Inc. announced the pricing of its public offering of 5,400,000 shares of its common stock at $0.70 per share. Overland has also granted the underwriter an option to purchase up to an additional 810,000 shares of common stock, to cover over-allotments, if any. This option is exercisable within 30 days following pricing. The offering is expected to close on or about November 4, 2009. Gross proceeds from the offering are expected to be approximately $3.8 million, and approximately $4.3 million if the underwriter exercises its over-allotment option in full. The Company intends to use the net proceeds from the offering for general corporate purposes, including product development and sales and marketing. Roth Capital Partners, LLC is the sole underwriter for the offering.
Overland Storage, Inc. Announces Strategic Manufacturing Agreement With Foxconn
Overland Storage, Inc. announced that it has reached a strategic manufacturing agreement with Foxconn. Under the terms of the agreement, Foxconn initially will collaborate with Overland on the manufacture of one product line within Foxconn's portfolio of end to end data protection solutions.
Overland Storage, Inc. Introduces NEOs Family of Automated Tape Libraries
Overland Storage, Inc. announced the availability of the new NEOs family of automated tape libraries, which provide simple and affordable backup, disaster recovery and archive capabilities.
Overland Storage, Inc. Announces $5 Million Foreign Receivable Financing Agreement
Overland Storage, Inc. announced that it had closed an accounts receivable financing transaction with FGI Finance. Under the terms of the agreement, FGI may finance up to $5 million of the Company's foreign accounts receivable to provide the Company with accelerated liquidity. The term of the agreement is two years with annual renewals thereafter.
Overland Storage, Inc. Launches NEO E-Series Family of Tape Libraries With Embedded Functionality
Overland Storage, Inc. announced the availability of the first models in its NEO SERIES line of scalable, automated tape libraries. The NEO E-Series libraries provide a host of embedded functionality along with simplified installation and operation to meet a wide range of demanding data protection and long-term archive requirements. The NEO 2000E and NEO 4000E extend the reliability, serviceability.
