Hubert Mak

- Sphere 3D Corp. (ANY) announced a warrant inducement transaction on **October 17, 2025**, to raise approximately **$4.0 million** in gross proceeds for working capital and general corporate purposes.  **[1591956_0001062993-25-016177_exhibit99-1.htm:0]** **[1591956_0001062993-25-016177_form8k.htm:1]** 
- The transaction involves the immediate exercise of existing November 2024 warrants to purchase up to **4,368,211 shares** of common stock at a reduced exercise price of **$0.94** per share, down from the original **$1.50**.  **[1591956_0001062993-25-016177_exhibit99-1.htm:0]** **[1591956_0001062993-25-016177_form8k.htm:1]** 
- In exchange for the exercise, the investor will receive new unregistered October 2025 warrants to purchase up to **8,736,422 shares** of common stock at an exercise price of **$0.94**, contingent on stockholder approval by **January 15, 2026**.  **[1591956_0001062993-25-016177_exhibit99-1.htm:0]** **[1591956_0001062993-25-016177_form8k.htm:1]** 
- A.G.P./Alliance Global Partners served as the financial advisor, earning a **7.0%** cash fee of the aggregate gross proceeds.  **[1591956_0001062993-25-016177_exhibit99-1.htm:0]** **[1591956_0001062993-25-016177_exhibit10-2.htm:0]**

Sphere 3D (ANY)