Sphere 3D (ANY) Commences Strategic Review of Debt Financing Options

Sphere 3D Corp. (Nasdaq: ANY) today announced that it will explore debt financing options to raise incremental capital to fund the growth of the Company and maximize value to shareholders.

Sphere 3D will evaluate its potential debt financing options to fund the Company’s purchase of S19j Pro bitcoin miners, the expansion of its mining fleet, and its growth into new areas of cryptocurrency and blockchain. The review is part of an ongoing initiative by Sphere 3D’s board of directors to optimize the operations and financing of the Company to facilitate growth and drive value for shareholders.

“Raising capital is critical to achieving our growth objectives. We plan to identify debt financing options that address our funding requirements while creating long-term value for shareholders,” said Patricia Trompeter, CEO of Sphere 3D.

Jefferies LLC is acting as Sphere 3D’s financial adviser in this review. There is no timeline set for this process and no assurance that the Company will enter into a debt agreement or complete any financing transaction as a result of this review.

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