Sphere 3D Corp. (ANY): debt financing — Sphere 3D raises up to $3M via convertible note and warrants with LDA Capital

Sphere 3D Corp.

Initial $1M convertible note at 7.5% interest, 24-month maturity, secured by bitcoin miners.
Warrants to purchase 3,191,489 shares at $0.47/share, exercisable for 3 years.
Additional $2M tranche available upon effectiveness of a resale registration statement.
Proceeds to fund deposits to energize remaining bitcoin miners.
The Benchmark Company acted as exclusive placement agent for the transaction.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Sphere 3D Corp. incurred convertible notes of $1,000,000 with LDA Capital Limited at 7.5% per annum maturing 24 months after issuance.

Instrument: convertible notes
Principal: $1,000,000
Counterparty: LDA Capital Limited
Rate: 7.5% per annum
Maturity: 24 months after issuance
Event: incurrence

Exact text from the filing

On April 17, 2023, Sphere 3D Corp. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") pursuant to which the Company issued to an institutional accredited investor, LDA Capital Limited (the "Investor"), a Senior Convertible Promissory Note having an aggregate principal amount of $1,000,000 (the "Note")

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sphere 3D Corp. entered into Securities Purchase Agreement with LDA Capital Limited valued at $1,000,000 (effective 2023-04-17).

Action: entry
Agreement: equity purchase
Counterparty: LDA Capital Limited
Value: $1,000,000
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, Sphere 3D Corp. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement") pursuant to which the Company issued to an institutional accredited investor, LDA Capital Limited (the "Investor"), a Senior Convertible Promissory Note having an aggregate principal amount of $1,000,000

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

Sphere 3D Corp. filing history →

Source: SEC EDGAR

accession 0001062993-23-009445

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