Company: ANY
Filing Date: 2025-12-10
Form Type: 424B3
Source: 0001062993-25-017271
Chunk: 16

Company: Sphere 3D Corp.
Filing Date: 2025-12-10
Form: 424B3
Chunk 16
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 available options, including, but not limited to, implementing a reverse stock split of our outstanding securities, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.

If we cannot comply with the Nasdaq Marketplace Rules either now or in the future, our common shares would be subject to delisting and would likely trade on the over-the-counter market. If our common shares were to trade on the over-the-counter market, selling our common shares could be more difficult because smaller quantities of shares would likely be bought and sold, transactions could be delayed, and security analysts' coverage of us may be reduced. In addition, broker-dealers have certain regulatory burdens imposed upon them, which may discourage broker-dealers from effecting transactions in shares of our common shares, further limiting the liquidity of our common shares. As a result, the market price of our common shares may be depressed, and you may find it more difficult to sell our common shares. Such delisting from the Nasdaq and continued or further declines in our stock price could also greatly impair our ability to raise additional necessary capital through equity or debt financing.

There may be future sales of our securities or other dilution of our equity, which may adversely affect the market price of our common shares.

With limited exceptions, we are generally not restricted from issuing additional common shares, including any securities that are convertible into or exchangeable for, or that represent the right to receive, common shares. The market price of our common shares could decline as a result of sales of common shares or securities that are convertible into or exchangeable for, or that represent the right to receive, common shares after this offering or the perception that such sales could occur.

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A substantial number of our common shares may be sold in this offering, which could cause the price of our common shares to decline.

In this offering, the Selling Stockholder may sell up to 8,736,422 of our common shares. This sale and any future sales of a substantial number of our common shares in the public market, or the perception that such sales may occur, could adversely affect the price of our common shares on Nasdaq. We cannot predict the effect, if any, that market sales of those common shares or the availability of those common shares for sale will have on the market price of our common shares.

Our management has significant flexibility in using the net proceeds of this offering.

We are not selling any securities under this prospectus and will not receive any proceeds from the sale of the common shares