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Share Name | Share Symbol | Market | Type |
---|---|---|---|
(MM) | NASDAQ:OVRL | NASDAQ | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.48 | 0.00 | 01:00:00 |
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|
OMB APPROVAL
OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5 |
|
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 |
|
1. Name and Address of Reporting Person
*
Kelly Eric |
2. Issuer Name
and
Ticker or Trading Symbol
OVERLAND STORAGE INC [ OVRL ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__ X __ Director _____ 10% Owner __ X __ Officer (give title below) _____ Other (specify below) President and CEO |
C/O OVERLAND STORAGE, INC., 4820 OVERLAND AVENUE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
|
|
SAN DIEGO, CA 92123 |
4. If Amendment, Date Original Filed
(MM/DD/YYYY)
|
6. Individual or Joint/Group Filing
(Check Applicable Line)
_ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
||||||||||
1.Title of Security
(Instr. 3) |
2. Trans. Date | 2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price |
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) |
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1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Series A Convertible Preferred Stock | $2.6362 | 2/18/2010 | P | 8666 | (1) (2) | (3) | Common Stock | 49309 | $15.00 (5) | 8666 | D |
|
|||
Warrants | $2.583 | 2/18/2010 | P | 69507 | 2/22/2010 (4) | 2/22/2015 | Common Stock | 69507 | $15.00 (5) | 69507 | D |
|
Explanation of Responses: | |
( 1) | The Series A Preferred Stock is convertible (i) at the option of the holder at any time after the record date for the special meeting of shareholders to approve the issuance and sale of the Series A Preferred Stock and Warrants (including the shares of Common Stock issuable upon conversion of the Series A Preferred Stock and exercise of the Warrants) or (ii) automatically if the shareholders approve the issuance and sale of Series A Preferred Stock and Warrants (including the shares of Common Stock issuable upon conversion of the Series A Preferred Stock and exercise of the Warrants). |
( 2) | Pursuant to the Certificate of Determination of Rights, Preferences, Privileges and Restrictions of Series A Convertible Preferred Stock dated February 18, 2010, a holder of shares of Series A Preferred Stock may not convert any such shares to the extent that after giving effect to such conversion the holder would beneficially own in excess of 19.999% of the total number of shares of common stock outstanding. The limitation on conversion of shares of Series A Preferred Stock will terminate if the shareholders approve the issuance and sale of Series A Preferred Stock and Warrants (including the shares of Common Stock issuable upon conversion of the Series A Preferred Stock and exercise of the Warrants). |
( 3) | No expiration date. |
( 4) | Pursuant to the terms of the Warrants, no holder of Warrants may exercise any such Warrants to the extent that after giving effect to such exercise the holder would beneficially own in excess of 19.999% of the total number of shares of common stock outstanding. The limitation on exercise of the Warrants will terminate if the shareholders approve the issuance and sale of Series A Preferred Stock and Warrants (including the shares of Common Stock issuable upon conversion of the Series A Preferred Stock and exercise of the Warrants). |
( 5) | Pursuant to the Purchase Agreement dated as of February 18, 2010 by and among Overland Storage, Inc. and the investor named herein, the per unit price of a share of Series A Preferred Stock and Warrants exercisable for approximately eight shares of Common Stock is $15.00. |
Reporting Owners
|
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Reporting Owner Name / Address |
|
||||
Director | 10% Owner | Officer | Other | ||
Kelly Eric
C/O OVERLAND STORAGE, INC. 4820 OVERLAND AVENUE SAN DIEGO, CA 92123 |
X |
|
President and CEO |
|
Signatures
|
||
Denise Garrett as Attorney-in-fact for Eric Kelly | 3/22/2010 | |
** Signature of Reporting Person |
Date
|
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
Note: | File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. |
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1 Year Overland Storage Chart |
1 Month Overland Storage Chart |
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