SC 13G/A

0001193125-13-048763.txt : 20130211 0001193125-13-048763.hdr.sgml : 20130211 20130211162802 ACCESSION NUMBER: 0001193125-13-048763 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20130211 DATE AS OF CHANGE: 20130211 GROUP MEMBERS: SOUTHWELL HOLDINGS, LLC GROUP MEMBERS: SOUTHWELL MANAGEMENT, L.P. GROUP MEMBERS: WILSON S. JAEGGLI SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OVERLAND STORAGE INC CENTRAL INDEX KEY: 0000889930 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] IRS NUMBER: 953535285 STATE OF INCORPORATION: CA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-53199 FILM NUMBER: 13592013 BUSINESS ADDRESS: STREET 1: 9112 SPECTRUM CENTER BOULEVARD CITY: SAN DIEGO STATE: CA ZIP: 92123 BUSINESS PHONE: 8585715555 MAIL ADDRESS: STREET 1: 9112 SPECTRUM CENTER BOULEVARD CITY: SAN DIEGO STATE: CA ZIP: 92123 FORMER COMPANY: FORMER CONFORMED NAME: OVERLAND DATA INC DATE OF NAME CHANGE: 19961212 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWELL PARTNERS L P CENTRAL INDEX KEY: 0000868892 IRS NUMBER: 752345339 STATE OF INCORPORATION: TX FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1901 N. AKARD STREET CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 2149229696 MAIL ADDRESS: STREET 1: 1901 N. AKARD STREET CITY: DALLAS STATE: TX ZIP: 75201 SC 13G/A 1 d483212dsc13ga.htm SC 13G/A SC 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

OVERLAND STORAGE, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

690310206

(CUSIP Number)

December 31, 2012

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

*	The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications:

Taylor H. Wilson, Esq.

Haynes and Boone, LLP

2323 Victory Avenue, Suite 700

Dallas, Texas 75219-7673

(214) 651-5000


CUSIP No. 690310206


1.	Names of Reporting Persons. Southwell Partners, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) x
3.	SEC Use Only
4.	Citizenship or Place of Organization Texas
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power 0
		6.	Shared Voting Power 1,566,694 (1)
		7.	Sole Dispositive Power 0
		8.	Shared Dispositive Power 1,566,694 (1)
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 1,566,694 (1)
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
11.	Percent of Class Represented by Amount in Row (9) 6.7%
12.	Type of Reporting Person (See Instructions) PN

(1)	Includes warrants to purchase 347,600 shares of common stock of the issuer that are exercisable within 60 days of the date of this statement.

CUSIP No. 690310206


1.	Names of Reporting Persons. Southwell Management, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) x
3.	SEC Use Only
4.	Citizenship or Place of Organization Texas
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power 0
		6.	Shared Voting Power 1,566,694 (1)
		7.	Sole Dispositive Power 0
		8.	Shared Dispositive Power 1,566,694 (1)
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 1,566,694 (1)
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
11.	Percent of Class Represented by Amount in Row (9) 6.7%
12.	Type of Reporting Person (See Instructions) PN, IA

(1)	Includes warrants to purchase 347,600 shares of common stock of the issuer that are exercisable within 60 days of the date of this statement.


CUSIP No. 690310206


1.	Names of Reporting Persons. Southwell Holdings, LLC
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) x
3.	SEC Use Only
4.	Citizenship or Place of Organization Texas
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power 0
		6.	Shared Voting Power 1,566,694 (1)
		7.	Sole Dispositive Power 0
		8.	Shared Dispositive Power 1,566,694 (1)
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 1,566,694 (1)
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
11.	Percent of Class Represented by Amount in Row (9) 6.7%
12.	Type of Reporting Person (See Instructions) OO

(1)	Includes warrants to purchase 347,600 shares of common stock of the issuer that are exercisable within 60 days of the date of this statement.


CUSIP No. 690310206


1.	Names of Reporting Persons. Wilson S. Jaeggli
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ¨ (b) x
3.	SEC Use Only
4.	Citizenship or Place of Organization United States
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power 0
		6.	Shared Voting Power 1,566,694 (1)
		7.	Sole Dispositive Power 0
		8.	Shared Dispositive Power 1,566,694 (1)
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 1,566,694 (1)
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
11.	Percent of Class Represented by Amount in Row (9) 6.7%
12.	Type of Reporting Person (See Instructions) IN, HC

(1)	Includes warrants to purchase 347,600 shares of common stock of the issuer that are exercisable within 60 days of the date of this statement.

Item 1.

(a)

Name of Issuer

OVERLAND STORAGE, INC.

(b)

Address of Issuer’s Principal Executive Offices

9112 Spectrum Center Boulevard, San Diego, California 92123

Item 2.

(a)

Name of Person Filing

This statement is jointly filed by and on behalf of each of Southwell Partners, L.P., Southwell Management, L.P., Southwell Holdings, LLC and Wilson S. Jaeggli. Southwell Partners is the record and direct beneficial owner of the securities covered by this statement. Southwell Management is the general partner of, and may be deemed to beneficially own securities owned by, Southwell Partners. Southwell Holdings is the general partner of, and may be deemed to beneficially own securities owned by, Southwell Management. Mr. Jaeggli is the managing director of, and may be deemed to beneficially own securities owned by, Southwell Holdings.

Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.

Each of the reporting persons may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each of the reporting persons declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.

(b)

Address of Principal Business Office or, if none, Residence

The address of the principal business office of each of the reporting persons is 1901 North Akard, 2nd Floor, Dallas, Texas 75201.

(c)

Citizenship

See Item 4 on the cover page(s) hereto.

(d)

Title of Class of Securities

Common Stock

(e)

CUSIP Number

690310206

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is:

(a) ¨

A broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);

(b) ¨

A bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);

An insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);

(d) ¨

An investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e) ¨

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f) ¨

An employee benefit plan or endowment fund in accordance with §240.13d- 1(b)(1)(ii)(F);

(g) ¨

A parent holding company or control person in accordance with §240.13d- 1(b)(1)(ii)(G);

(h) ¨

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) ¨

A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) ¨

A non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J);

(k) ¨

A group, in accordance with §240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:

Item 4.

Ownership

(a)

Amount beneficially owned: See Item 9 on the cover page(s) hereto.

(b)

Percent of class: See Item 11 on the cover page(s) hereto.

(c)

Number of shares as to which such person has:

(i)

Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.

(ii)

Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.

(iii)

Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.

(iv)

Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.

Item 5.

Ownership of 5% or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨.

Item 6.

Ownership of More than 5% on Behalf of Another Person

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

Not Applicable

Item 8.

Identification and Classification of Members of the Group

Item 9.

Notice of Dissolution of Group

Item 10.

Certifications

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.


Date: February 11, 2013	SOUTHWELL PARTNERS, L.P.

	By:	Southwell Management, L.P.
	Its:	General Partner

	By:	Southwell Holdings, LLC
	Its:	General Partner

	By:	/s/ Wilson S. Jaeggli
	Name:	Wilson S. Jaeggli
	Title:	Managing Director

	SOUTHWELL MANAGEMENT, L.P.

	By:	Southwell Holdings, LLC
	Its:	General Partner

	By:	/s/ Wilson S. Jaeggli
	Name:	Wilson S. Jaeggli
	Title:	Managing Director

	SOUTHWELL HOLDINGS, LLC

	By:	/s/ Wilson S. Jaeggli
	Name:	Wilson S. Jaeggli
	Title:	Managing Director

	WILSON S. JAEGGLI

	/s/ Wilson S. Jaeggli

EXHIBIT INDEX


Exhibit		Description of Exhibit

99.1		Joint Filing Agreement (incorporated herein by reference to Exhibit 99.1 to the Schedule 13G relating to the common stock of the issuer filed on August 7, 2012 by the reporting persons with the Securities and Exchange Commission)