Under the proposed asset purchase ("Asset Purchase"), the Company would acquire all of Ciprico's rights to the RAIDCore(TM) technology. In addition, the Company would acquire a joint ownership interest with Ciprico in the NAS intellectual property.
The Company is also negotiating to provide Ciprico with a debtor-in-possession ("DIP") loan ("DIP Loan") in an amount not to exceed $225,000. The terms of the DIP Loan would provide Dot Hill with a first priority security interest in all of Ciprico's assets.
Dot Hill Systems Corp.