Company: ANY
Filing Date: 2025-11-21
Form Type: S-3
Source: 0001062993-25-016980
Chunk: 40

Company: Sphere 3D Corp.
Filing Date: 2025-11-21
Form: S-3
Chunk 40
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 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 Warrants under the Securities Act is effective and available for the issuance of such shares, or an exemption from registration under the Securities Act is available for the issuance of such shares, by payment in full in immediately available funds for the number of common shares purchased upon such exercise. If a registration statement registering the offer and sale of the common shares underlying the Warrants under the Securities Act is not effective or available and an exemption from registration under the Securities Act is not available for the issuance of such shares, the holder may elect to exercise the Warrant through a cashless exercise. In such a case, the holder would receive upon such exercise the net number of common shares determined according to the formula set forth