Daily News: September 3, 2013

Overland Storage Extends Revolver

Overland Storage extended the maturity date of its $8 million revolving credit facility to Aug. 7, 2015 as it continues to evaluate a merger idea involving another data storage provider, proposed by New York-based distressed-debt fund manager Cyrus Capital Partners, The Deal reported.

In May, Overland Storage received the proposal to combine it with Tandberg Data (Holdings) Sarl, a Dortmund, Germany-based data storage and data protection company owned by Cyrus Capital that had $67 million in revenue in 2012; the company is evaluating the proposal with the help of financial adviser Al Longfield at Roth Capital Partners, The Deal added.