DSC Enters into a $20 Million Equity Line Agreement with Southridge Partners II

Garden City, NY, December 1, 2011 –/– Data Storage Corporation (DSC) (DTST: OTC US), a cloud storage and cloud computing company focusing on data protection and business continuity solutions, today announced that it has signed a $20 million equity line agreement (the “Agreement”) with Southridge Partners II (“Southridge”), an institutional investor based in Ridgefield, Conn. This funding will enable DSC to further accelerate its technology development and market expansion.

“We are pleased to have secured this equity line with Southridge, a forward-thinking institutional investor, which provides us future flexibility in capital raising,” said Chuck Piluso, chairman and CEO of DSC. “We plan to use this funding to take the company to the next level, by continuing our organic growth plans as well as to remain committed to our acquisition strategy.”

Pursuant to the Agreement, DSC has the right, at its discretion, to sell to Southridge up to $20 million of its common stock from time to time over a 24-month period. DSC will have the right, but is not obligated, to sell stock to Southridge depending on certain conditions as set forth in the Agreement.

“We are thrilled to have the continued support of Southridge,” added Piluso. “We are closing out an extremely successful year where we have experienced excellent growth and this investment by Southridge is a true testament to our vision and the market demand.”

About Data Storage Corp.
DSC provides cloud storage and cloud computing focused on data protection, disaster recovery and business continuity solutions that assist organizations in protecting their data, minimize downtime, ensure regulatory compliance, and recover and restore data quickly. DSC’s clients save time and money, gain more control and better access to data and enable the highest level of security for that data. The company’s solutions include: data backup and storage, replication; high availability data replication services; email archive and compliance solutions for e-discovery; continuous data protection; data de-duplication; virtualized system recovery; and telecom recovery services. Headquartered in Garden City, N.Y., DSC offers its solutions and services to healthcare, banking and finance, distribution services, manufacturing, construction, education, and government industries. For more information on DSC, visit

Forward-Looking Statements:
Cautionary Statement on Risks Associated with Data Storage Corporation – Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 by Data Storage Corporation that are subject to risks and uncertainties. The words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “may,” “should,” “could,” and similar expressions are intended to identify such statements. Forward-looking statements are not guarantees of future performance and are to be interpreted only as of the date on which they are made. Data Storage Corporation undertakes no obligation to update or revise any forward-looking statement except as required by law. Data Storage Corporation advises investors that it discusses risk factors and uncertainties that could cause Data Storage Corporation’s actual results to differ from forward-looking statements in its periodic reports filed with the Securities and Exchange Commission (“SEC”). Data Storage Corporation’s SEC filings can be accessed through the SEC’s EDGAR Database at (Data Storage Corporation has EDGAR CIK No. 0001419951).


Data Storage Corporation, SafeData and the Data Storage Corporation logo are trademarks Data Storage Corporation. All other trademarks or registered trademarks are properties of their respective owners.

Karen Higgins
A & E Communications, Inc.

General Tags: online file storage, online backup, online file backup, data storage, online backup providers directory, data security, compare online backups, online backup services, online backup companies, SaaS, online backup news, cloud computing, CEO interviews, top rated online backups, online backup reviews, software as a service, online data backup, backing up online

Like us on Facebook

Do you like this post? Subscribe to our RSS feed ===========================

Sponsored Links:

Data Deposit Box


Bacula Systems



Related posts:

  1. Egnyte, Cloud Online Data Backup Server Provider, Secures $10 Million in Financing Led by Kleiner Perkins Caufield & Byers
  2. Symform, P2P Online Data Backup and Storage Solution Provider, Announces $11 Million Series B Financing with Strong Business Momentum
  3. Data Storage Corporation and Maximus Data Company Sign Value Added Reseller Agreement
  4. Data Storage Corporation Signs Midwest Distributor Agreement With Fortress Data Management
  5. Green Cloud Acquires Ohio-Based ANS Corporation and Secures $5m Investment from Spring Capital Partners
  6. Data Storage Corporation, Online Backup and Cloud Storage Company, CEO to Present at Wall Street Analyst Conference
  7. ownCloud Secures Financing and Expands its Management Team
  8. Data Storage Corporation Announces Upgrade to the OTC Bulletin Board
  9. Data Storage Corporation and WTG Strengthen Strategic Partnership
  10. Symform, Online Data Backup Company, Raises $4 Million Venture Capital Round Financing