Sphere 3D Finalizes 1-for-25 Reverse Share Split

Sphere 3D, a containerization, virtualization and data management solution provider, said Tuesday it has effected a previously approved reverse stock split of its common shares on a one-for-25 basis.

The company’s common shares will begin trading on a post-consolidation basis on the Nasdaq Capital Market, as of the opening of trading on Wednesday, under a new CUSIP number 84841L209 and under the existing trading ticker “ANY”. Following the share consolidation, every 25 issued and outstanding common shares of the company will be automatically combined and converted into one issued and outstanding common share. The reverse stock split is intended to increase the per share trading price of Sphere 3D’s common shares to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.

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