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Sphere 3D - Undisclosed
Overview
About Sphere 3D - Undisclosed
Sphere 3D announced today that it has entered into a securities purchase agreement with LDA Capital Limited ("LDA Capital") to raise up to $3 million in capital.
Terms of the securities purchase agreement include the initial issuance of a senior convertible note with a principal amount of $1 million and three-year warrants to purchase 3,191,489 shares, exercisable at the initial exercise price of $0.47 per share with an additional tranche of up to $2 million to be provided to the Company following the effectiveness of a registration statement in exchange for an additional senior convertible note and warrants to purchase common stock. The note matures two years from issuance, is secured by certain miners of the Company, and the Company may repay the principal on the note in stock or cash (or a combination of the two) at the Company's discretion; provided the stock issued must be freely resold or else the Company may not repay in stock.
The Benchmark Company, LLC acted as exclusive placement agent for Sphere 3D.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2018 | 13 | -- |
Founders & Team
Patricia Trompeter
Company Profile / Project Introduction
Sphere 3D Corp. is a net carbon-neutral cryptocurrency miner with decades of proven enterprise data-services expertise. They deliver data management solutions via hybrid cloud, cloud and on-premises implementations both directly and through reseller network and professional services organization.