Sphere 3D enters warrant inducement; existing holder exercises at $0.94 for ~$4M gross proceeds

Sphere 3D Corp.

Existing warrant holder exercises 4,368,211 warrants at reduced $0.94/share, generating ~$4.0M gross proceeds.
Investor receives new warrants for up to 8,736,422 shares at $0.94, exercisable after stockholder approval.
New warrants expire five years from stockholder approval date; no exercise if holder exceeds 9.99% ownership.
Closing expected Oct 17, 2025; net proceeds for working capital and general corporate purposes.
A.G.P./Alliance Global Partners acted as financial adviser with 7% commission on gross proceeds.

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