Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 20

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 means of cashless exercise pursuant to the terms in the warrant agreement. A holder will not have the right to exercise any portion of the Pre-Funded Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99% 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 Pre-Funded Warrants. However, upon notice from the holder to the Company as described in the 2024 Purchase Agreement, the holder may increase the beneficial ownership limitation, which may not exceed 9.99% of the number of the Company's common shares outstanding immediately after giving effect to the exercise of Pre-Funded Warrants. For the three and six months ended June 30, 2025, the Pre-Funded Warrants to purchase 1,087,000 and 1,594,000 common shares were exercised. There are no Pre-Funded Warrants outstanding at June 30, 2025. For the three and six months ended June 30, 2025, there was no other warrant activity.Unlimited authorized shares of common shares at no par value are available to the Company. At June 30, 2025, the Company had the following outstanding warrants to purchase common shares:Date issuedContractual life (years)Exercise priceNumber outstandingExpirationSeptember 20215$66.501,471,441 September 8, 2026February 20225$28.0014,286 February 7, 2027February 20225$35.0014,286 February 7, 2027February 20225$42.0014,286 February 7, 2027April 20233$1.34273,556 April 17, 2026August 20233$2.75800,000 August 11, 2026August 20233$2.752,162,922 August 23, 2026November 20245.5$1.50142,858 May 21, 2030November 20245.5$1.504,225,353 May 21, 20308,918,988 

10.Equity Incentive Plan

In May 2025, the shareholders approved the adoption of the Company’s 2025 Performance Incentive Plan (“2025 Plan”), initially authorizing the award of up