Company: ANY
Filing Date: 2025-12-05
Form Type: DEF 14A
Source: 0001591956-25-000025
Chunk: 13

Company: Sphere 3D Corp.
Filing Date: 2025-12-05
Form: DEF 14A
Chunk 13
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 per share. In addition, pursuant to the Inducement Agreement, the Company offered to issue new warrants (the “

#### New 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 (with all transactions contemplated by the Inducement Agreement and the New Warrants, collectively, the “

#### Warrant Inducement Transaction
”).

The New Warrants have an exercise price of $0.94 per share (subject to adjustment as set forth in the New Warrants), will become exercisable on the date (the “

#### Shareholder Approval Date
”) on which the Company receives approval from its shareholders with respect to the issuance of the New Warrants and common shares issuable upon the exercise thereof (“

#### Shareholder Approval
”), and will expire on the five-year anniversary of the Shareholder Approval Date. The New 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 New Warrants will not have the right to exercise any portion of the New 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 New Warrants.

The transaction closed on October 17, 2025, and all Existing Warrants were exercised, resulting in the Company receiving total gross cash proceeds of approximately $4.1 million and issuing 4,368,211 of the Company’s common shares and New Warrants to purchase up to 8,736,422 common shares to the Purchaser. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.

In connection with the Inducement Agreement, the Company is required to file a resale registration statement (the “

#### Resale Registration Statement
”) with the SEC to register the resale of the Company’s common shares issuable upon exercise of the New Warrants. Pursuant to the Inducement Agreement, the Resale Registration Statement must be declared effective by the SEC within 60 days after the date of the Inducement Agreement, or 90 days if the Resale Registration Statement is reviewed by the SEC.

In addition, the Company is required to hold