| Overland Data, Inc. | |||
| Ticker: | OVRL | 8975 Balboa Avenue | |
| Exchange: | NASDAQ-National Market | San Diego, CA 92123-1599 | |
| Industry: | Service (SIC Code 7389) | (619) 571-5555 | |
| Type of Shares: | Common Shares | Filing Date: | 12/24/96 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 2/21/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,386,364 | Offer Price: | $10.00 | |
| Secondary Shares: | 613,636 | Gross Spread: | $0.70 | |
| Offering Amount: | $27,000,000 | Selling: | $0.45 | |
| Expenses: | $550,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,742,898 |
| Manager | Tier | Phone |
| Jefferies & Company Incorporated | Lead Manager | (212) 903-2342 |
| Cruttenden Roth Incorporated | Co-manager | (800) 678-9147 |
| Issuer's Law Firm: | Baker & McKenzie |
| Bank's Law Firm: | Brobeck, Phleger & Harrison |
| Auditor: | Price Waterhouse |
| Registrar/Transfer Agent: | Norwest Bank of Minnesota |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $47.23 | $12.01 | $11.02 | Assets: | $21.20 |
| Net Income: | $3.16 | $0.32 | $0.47 | Curr Assets: | |
| EPS: | Liabilities: | $9.63 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $11.57 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company designs, develops, manufactures, markets and supports magnetic tape data storage systems used by businesses for backup, archival and data interchange functions. The company primarily offers three product lines - LibraryXpress, TapeXpress and TapePro - which are designed to meet the data storage needs of client/server networks, workstations, minicomputers and personal computers. The company believes that it is well positioned to take advantage of the rapidly increasing demand for storage capacity, particularly that created by the growth in client/server networks. To address this growing network storage demand, the company introduced the LXB in March 1996, the first product of its LibraryXpress line of automated tape libraries. |
| Competition |
| The worldwide tape storage market is intensely competitive as a large number of manufacturers of alternative tape technologies compete for a limited number of customers and barriers to entry are relatively low in the library product category. The company believes that the significant competitive factors affecting its business are price, performance, reliability, support and reputation, and that it competes favorably with regard to each of these factors. |
| Business Plan |
| The company intends to continue building a leadership position in the magnetic tape segment of the data storage industry. The company believes that it possesses certain core competencies which will help it attain this leadership position, including: 1) advanced knowledge of hardware/software integration and connectivity, due to its experience in designing and developing both tape drives and libraries; 2) experience in the magnetic tape industry, particularly with respect to innovative mechanical, electrical and firmware designs; 3) comprehensive understanding of, and close contact with, end-user needs; and 4) experienced company intends to leverage these core competencies in the execution of its business strategy. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for the repayment of outstanding indebtedness, working capital and other general corporate purposes. |