Sphere 3D completes 1-for-7 reverse stock split to meet Nasdaq minimum bid price

Sphere 3D Corp.

Share consolidation effective June 28, 2023 at a 1-for-7 ratio.
Every 7 pre-split shares become 1; fractional shares rounded up to whole share.
Post-split trading begins June 29 on Nasdaq under symbol ANY with new CUSIP 84841L407.
Split intended to raise per-share price above Nasdaq's $1.00 minimum bid requirement.
Board had shareholder authorization to consolidate between 1:2 and 1:10; chose 1:7.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Sphere 3D Corp.: Articles of Amendment filed to effect a 1-for-7 share consolidation of common shares (effective 2023-06-28).

Change: charter amendment
Effective: 2023-06-28

Exact text from the filing

On June 28, 2023, Sphere 3D Corp. (the "Company") filed Articles of Amendment to effectuate a share consolidation (the "Share Consolidation") of its issued and outstanding common shares on a 1-for-7 basis.

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Sphere 3D Corp. filing history →

Source: SEC EDGAR

accession 0001062993-23-014107

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