Overland Gets $5M Financing

Bruce V. Bigelow3/25/09

Following on a $9 million financing of its domestic receivables in late November, San Diego’s Overland Storage said today it had reached a similar two-year deal to finance up to $5 million of the data protection company’s foreign accounts receivables. In a statement, Overland’s new CEO, Eric Kelly, said, “We believe that together these two financing arrangements will allow us to continue our recovery and execute our strategy.”

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788