Company: ANY
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001062993-25-017271
Chunk: 35

Company: Sphere 3D Corp.
Filing Date: 2025-12-10
Form: 424B3
Chunk 35
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holder. The Existing Warrants had an exercise price of $1.50 per share (subject to adjustment as set forth in the Existing Warrants) and became exercisable six months after issuance.

On October 16, 2025, we entered into a warrant inducement offer letter (the "Inducement Agreement") with the Purchaser whereby we offered the Selling Stockholder the ability to exercise its Existing Warrants at an exercise price of $0.94 per share. In addition, pursuant to the Inducement Agreement, the Company offered to issue new warrants (the "Warrants") to purchase a number of shares equal to 200% of the number of common shares issued pursuant to the exercise of the Existing Warrants, or up to 8,736,422 common shares.

The Warrants have an exercise price of $0.94 per share(subject to adjustment as set forth in the Warrants), will become exercisable on the date (the "Stockholder Approval Date") on which we receive approval from our stockholders with respect to the issuance of the Warrants and common shares issuable upon the exercise thereof ("Stockholder Approval"), and will expire on the five-year anniversary of the Stockholder Approval Date. The Warrants contain standard anti-dilution adjustments to the exercise price including for share splits, share dividends, rights offerings and pro rata distributions. A holder of the Warrants will not have the right to exercise any portion of the Warrants if the holder (together with its affiliates) would beneficially own in excess of 9.99% of the number of the Company's common shares outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Warrants.

The following summary of certain terms and provisions of the Warrants is not complete and is subject to, and qualified in its entirety, by the provisions of the Warrants, which is filed as an exhibit to the registration statement of which this prospectus forms a part.

Exercisability. The Warrants are exercisable at any time following the date on which we receive Stockholder Approval (the "Initial Exercise Date") and at any time thereafter up to the date that is five (5) years from the date on which we receive Stockholder Approval. The Warrants will be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice and, at any time a registration statement registering the offer and sale of the common shares underlying the