---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-23-009445"
form_type: "8-K"
ticker: "ANY"
cik: "0001591956"
company_name: "Sphere 3D Corp."
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:21:04.144554+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sphere 3D raises up to $3M via convertible note and warrants with LDA Capital

## Summary
- 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.

## SEC filing metadata
- accession: 0001062993-23-009445
- form_type: 8-K
- ticker: ANY
- cik: 0001591956
- company_name: Sphere 3D Corp.
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1591956/000106299323009445/0001062993-23-009445-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1591956/000106299323009445/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-23-009445
- JSON: https://secwatch.observer/filing/0001062993-23-009445.json
- Plain text: https://secwatch.observer/filing/0001062993-23-009445.txt

## Key facts
- Debt Financings
  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
  source text: 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")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1591956/000106299323009445/0001062993-23-009445-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1591956/000106299323009445/0001062993-23-009445-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.