Sphere 3D Corp. Faces Nasdaq Delisting Warning
Ticker: ANY · Form: 8-K · Filed: Oct 11, 2024 · CIK: 1591956
| Field | Detail |
|---|---|
| Company | Sphere 3d CORP. (ANY) |
| Form Type | 8-K |
| Filed Date | Oct 11, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, nasdaq
Related Tickers: ANY
TL;DR
Sphere 3D got a delisting warning from Nasdaq, stock might be in trouble.
AI Summary
Sphere 3D Corp. filed an 8-K on October 10, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is facing potential delisting from the Nasdaq Capital Market due to not meeting certain continued listing standards.
Why It Matters
This filing indicates Sphere 3D Corp. may be delisted from the Nasdaq, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at high risk of being delisted from a major stock exchange, which poses a significant threat to its operations and shareholder value.
Key Numbers
- 001-36532 — SEC File Number (Identifies the company's filing with the SEC.)
Key Players & Entities
- Sphere 3D Corp. (company) — Registrant
- Nasdaq Capital Market (company) — Exchange where the company is listed
- October 10, 2024 (date) — Date of earliest event reported
FAQ
What specific continued listing rule has Sphere 3D Corp. failed to satisfy?
The filing does not specify the exact rule, but it indicates a failure to meet 'continued listing standards' for the Nasdaq Capital Market.
What is the date of the earliest event reported in this 8-K?
The date of the earliest event reported is October 10, 2024.
What exchange is Sphere 3D Corp. at risk of being delisted from?
Sphere 3D Corp. is at risk of being delisted from the Nasdaq Capital Market.
What is the company's principal executive office address?
The address of the principal executive offices is 243 Tresser Blvd, 17th Floor, Stamford, Connecticut, 06901.
What is the SEC File Number for Sphere 3D Corp.?
The SEC File Number for Sphere 3D Corp. is 001-36532.
Filing Stats: 619 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-10-11 17:15:23
Key Financial Figures
- $1.00 — ading days had closed below the minimum $1.00 per share required for continued listin
Filing Documents
- form8k.htm (8-K) — 15KB
- 0001062993-24-017630.txt ( ) — 224KB
- any-20241010.xsd (EX-101.SCH) — 4KB
- any-20241010_cal.xml (EX-101.CAL) — 1KB
- any-20241010_def.xml (EX-101.DEF) — 22KB
- any-20241010_lab.xml (EX-101.LAB) — 45KB
- any-20241010_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 10, 2024, Sphere 3D Corp. ("the Company") received a notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the bid price of the Company's common shares for the last 30 consecutive trading days had closed below the minimum $1.00 per share required for continued listing under Listing Rule 5550(a)(2) (the "Listing Rule"). The Company has a period of 180 calendar days, or until April 8, 2025, to regain compliance with the Listing Rule. The notice from Nasdaq has no immediate effect on the listing or trading of the Company's common shares on The Nasdaq Capital Market. If the Company does not regain compliance with Nasdaq Listing Rule 5550(a)(2) by April 8, 2025, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period. The Company intends to monitor the closing bid price of its common shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse stock split of its outstanding securities, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: October 11, 2024 SPHERE 3D CORP. By: /s/ Patricia Trompeter Patricia Trompeter Chief Executive Officer