Company: ANY
Filing Date: 2025-11-21
Form Type: S-3
Source: 0001062993-25-016980
Chunk: 15

Company: Sphere 3D Corp.
Filing Date: 2025-11-21
Form: S-3
Chunk 15
---
 warrants to purchase 4,368,211 common shares (the "Existing Warrants") of the Company. The Existing Warrants were exercised at a reduced exercise price of $0.94 for total gross cash proceeds of $4.1 million, before deducting financial advisor fees and other transaction expenses of $0.3 million. We intend to use the net proceeds from the offering for working capital and other general corporate purposes. In consideration for the immediate exercise in full of the Existing Warrants, the investor received in a private placement new unregistered warrants to purchase up to 8,736,422 common shares (the "New Warrants"). The New Warrants have an exercise price of $0.94 and will be initially exercisable on the date that shareholder approval of the issuance of the New Warrants is obtained. The New Warrants will expire five years from the date of such approval.

●In October 2025, we entered into a Hosting Agreement with North Campbell HostCo LLC (the "Campbell Hosting Agreement") effective November 1, 2025, for rack space, network services, electrical connections, routine facility maintenance, and technical support of certain of our mining equipment. The Campbell Hosting Agreement has an initial term of 12 months and an initial deposit of $0.2 million.

●In October 2025, we purchased new generation mining machines for $3.9 million, which are expected to increase deployed EH/s by approximately 25% during the fourth quarter of 2025.

●In July 2025, we entered into a financial advisory and consulting agreement for a term of 12 months, with automatic one month renewal periods. The agreement can be canceled by either party at any time with a 10 days written notification to the other party. Fees are $25,000 per month for ongoing work, and $1.45 million fee for certain transactions, payable in cash and equity. In July 2025, we issued two RSU grants for an aggregate of 740,740 common shares with a fair value of approximately $0.45 million for the equity portion of the fee. In July 2025, 50% of the RSU grants vested and 370,370 common shares were issued.

<div align='center'>11

The Offering</div>

| Securities offered by the Selling Stockholder:                                        |     | 8,736,422 common shares issuable upon the exercise of outstanding common share purchase warrant (the "Warrants").                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Common