Nexsan, headquartered in Campbell, CA. is a leading developer and marketer of block and file object storage systems ranging from backup, databases or exchange, scalable and highly-flexible NAS file systems to hyper unified system integrating global private-cloud file sync functionality and secure archiving.

GlassBridge Enterprises, formerly known as Imation Corporation, is a U.S. publicly-owned company focusing on alternative asset management and global enterprise storage. The Company is actively exploring a diverse range of new, strategic asset management business opportunities for its portfolio. The Company’s wholly-owned subsidiary, GlassBridge Asset Management, is a registered investment advisor focused primarily on technology-driven and quantitative strategies.

This transaction enabled GlassBridge to deploy its resources toward the development and expansion of its alternative asset management platform. In exchange for GlassBridge’s interest in Nexsan, GlassBridge received a senior secured convertible note with a face amount of $25 million and common shares in NXSN Acquisition Corporation, an affiliate of Spear Point Capital Management.