Imation Liquidates Storage Line For $6m

by Admin


Via News Release

“OAKDALE, Minn.–(BUSINESS WIRE)–Aug. 13, 2015– Imation Corp. (NYSE:IMN) (the “Company”) today announced an agreement to sell its RDX™ Storage product line, including associated inventory, to Sphere 3D (NASDAQ:ANY) for approximately $6 million. Under terms of the agreement, Imation will receive approximately 1.5 million shares of Sphere 3D common stock, which are subject to registration by Sphere 3D.”