Report of Foreign Issuer (6-k)
July 28 2017 - 4:32PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
July, 2017
Commission File Number:
001-36532
SPHERE 3D CORP.
240 Matheson Blvd. East
Mississauga, Ontario,
Canada, L4Z 1X1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.
[X] Form 20-F [ ]
Form 40-F
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b):
The information contained in this Form 6-K is incorporated by
reference into, or as additional exhibits to, as applicable, the registrant's
outstanding registration statements.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
NASDAQ Compliance
Sphere 3D Corp. (the Company) announced that NASDAQ informed
the Company that as of July 26, 2017, the Company has regained compliance with
NASDAQs Listing Rule 5550(a)(2) (the Rule), which requires the closing bid
price of the Companys common stock to be at or greater than $1.00 for 10
trading days.
On July 27, 2017, the Company issued a press release announcing
its compliance with the Rule. A copy of the press release is filed as Exhibit
99.1 hereto and is incorporated by reference into this report.
Amendment Number Six to Credit Agreement, Amendment
Number Two to Amendment Number 1
, Waiver
and
Reaffirmation
As previously disclosed, on April 6, 2016, Overland Storage,
Inc., a California corporation (Overland) and wholly owned subsidiary of the
Company, Tandberg Data GmbH, a limited liability company organized under the
laws of Germany (Tandberg and, together with Overland, collectively the
Borrowers), and Opus Bank, a California commercial bank, as Lender (Lender),
entered into a Credit Agreement (the Credit Agreement) pursuant to which the
Lender provided the Borrowers a $10 Million revolving credit facility and
Overland $10 Million term loan facility. On June 30, 2017, the Borrowers and
Lender entered into an Amendment Number Six to Credit Agreement, Amendment
Number Two to Amendment Number 1, Waiver and Reaffirmation (the Sixth
Amendment). Under the terms of the Sixth Amendment, among other things, (i) the
maturity date for the revolving and term loan credit facilities was amended to
be the earlier of (a) the Global Debenture Maturity (as such term is defined in
the Credit Agreement) or (b) October 31, 2017, and (ii) in the event of a
failure by the Company to comply with certain covenants and milestones set forth
in the Sixth Amendment, all amounts under the Credit Agreement may be
accelerated and become immediately payable.
The foregoing description of the Sixth Amendment does not
purport to be complete and is qualified in its entirety by reference to the
Sixth Amendment, attached hereto as Exhibit 99.2, and incorporated herein by
reference.
SUBMITTED HEREWITH
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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SPHERE 3D CORP.
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Date: July 28, 2017
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/s/
Kurt Kalbfleisch
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Name: Kurt Kalbfleisch
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Title: Chief Financial Officer
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