Sphere 3D Corp (NASDAQ:ANY), a giant virtualization, containerization, and data management solutions provider has entered into securities purchase agreements with institutional investors with the aim of purchasing 20,454,546 Common Shares of company for a purchase price per share of $0.22 and that is of course in the registered direct offering.
The company has also accepted to sell the unregistered warrants to the various investors in a concurrent private placement targeting the purchase of up to 20,454,546 common shares with an accompanying exercise price of U.S. $0.30 for every share.
The agreement provides that the warrants are subject to price based antidilution protections incase the company violates the agreed upon stipulations by choosing to issue the securities at a lower mark than the exercise price. At the moment, the company is looking forward to utilize the proceeds from the offering to serve the corporate as well as the working capital purposes.
Quite a large number of fanatics may be tempted to think that the world is making steps back to the centralized computer and the public cloud serving as the catalysts. They might even move ahead to term the servers “dead”
The company’s top experts disagree and in a big way for that matter. Firstly, the experts acknowledge the public cloud as a remarkable form of innovation and t the same time an enabler of a wide range of new services.
According to them, the public cloud will not spell the “death” of an on premise but on the contrary is the savior. The extroverted nature of the on premise boxes is a special aspect and it is known to play nicely with the public cloud counterparts.
The same way the public Cloud needed the on premise equipment to make a huge impact, the on premise equipment also requires the public cloud to make impact. Sphere 3D Corp may be thought as taking slower steps towards business success and development.
However, speed doesn’t really matter. What matters is moving towards the right direction and this is what this company is doing at the moment and its steadiness will get it to the top in terms of business success.