Overland Storage plans $4.2 million registered direct stock offering

Deal includes common shares; proceeds for general corporate purposes

By Devika Patel

Knoxville, Tenn., Nov. 12 - Overland Storage said it has arranged a registered direct offering of stock.

The company will sell about $4.2 million of its common shares in the offer.

Proceeds will be used for general corporate purposes, which may include working capital needs, capital expenditures and acquisitions.

Settlement is expected Nov. 17.

Overland Storage, based in San Diego, is a provider of data protection appliances.

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