Sphere 3D Announces Private Placement Financing
May 08 2019 - 8:00AM
Sphere 3D Corp. (NASDAQ: ANY) reported that it has signed purchase
agreements for a private placement of 340,000 common shares of the
company for a gross purchase price of U.S. $680,000. The purchase
price for one common share is U.S. $2.00. The transaction is
anticipated to close on or about May 15, 2019 subject to
customary closing conditions. The company intends to use the
proceeds from the offering for general corporate and working
capital purposes.
THIS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY ANY SECURITY. THE SECURITIES
OFFERED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES OR ANY STATE THEREOF ABSENT
REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS OR AN APPLICABLE EXEMPTION FROM REGISTRATION
REQUIREMENTS.
About Sphere 3DSphere 3D
Corp. (NASDAQ: ANY) delivers containerization, virtualization,
and data management solutions via hybrid cloud, cloud and
on-premise implementations through its global reseller network and
professional services organization. Sphere 3D has a portfolio
of brands, including HVE ConneXions, UCX ConneXions, and
SnapServer® dedicated to helping customers achieve their IT goals.
For more information, visit www.sphere3d.com. Follow us on
Twitter @Sphere3D and @HVEconneXions
Safe Harbor Statement This
press release contains forward-looking statements that involve
risks, uncertainties, and assumptions that are difficult to
predict. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of risks and uncertainties including,
without limitation, our inability to obtain additional debt or
equity financing; any increase in our cash needs; the
company’s ability to maintain listing with the NASDAQ Capital
Market; market adoption and performance of our products; the level
of success of our collaborations and business partnerships;
possible actions by customers, partners, suppliers, competitors or
regulatory authorities; and other risks detailed from time to time
in our periodic reports contained in our Annual Information Form
and other filings with Canadian securities regulators
(www.sedar.com) and in prior periodic reports filed with
the United States Securities and Exchange Commission
(www.sec.gov). Sphere 3D undertakes no obligation to
update any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new
information, future developments or otherwise, except as required
by law.
Investor Contact:Kurt
Kalbfleisch+1-858-495-4211Investor.relations@sphere3d-overland.com
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