Sphere 3D Corp. (ANY), a company providing data management, and desktop and application virtualization solutions, has seen an increase of 2.59% in the premarket trading session. Consequently, ANY stock is changing hands at $5.94 at the time of this writing. On Tuesday, ANY stock closed the day after increasing 0.52% in normal trading. For the moment, let’s discuss some major news related to ANY stock.
Purchase of Antminers
On Tuesday, ANY stock announced that it had secured the order for 60,000 antminers. The order was secured by paying an $85 billion payment on Tuesday. The company said that the 60,000 Antminer S19j Pros will commence delivery in November 2021. Antminer S19j Pros are considered the leading miner in the industry. After some adjustments to the original units, the company hopes to take delivery of additional capacity of from what was previously reported; along with 6.0 exahash of capacity after the completion of deliveries. The company also said that upon the closing of the Gryphon digital mining merger, the combined companies would have a total capacity of 6.7 exahash. That sort of capacity could produce more than 1300 bitcoins per month. Peter Tassiopoulos, Sphere 3D’s CEO, commented that the development would make the company one of the top miners in the region.
Retention of Legal Capital
On the 10th of September, ANY stock announced that it had retained Legal Capital as an advisor. Legal Capital is a global investment management company. It is a private equity firm, having headquarters in China and the US. It has a specialization in global investments for high-quality capital. Peter Tassiopoulo commented on the development that the company is looking forward to expand its crypto business with the assistance of Legal Capital.
ANY Stock securities purchase agreement
On 3rd September, ANY stock announced that it had entered into a securities purchase agreement with institutional investors. The agreement deals with the purchase of $192.1 million of its common shares and warrants in a registered direct offering priced at the market under Nasdaq rules. The company said that the combined purchase price for one common share and one-half warrants to purchase a common share stands at $8.50. According to the agreement, Sphere 3D had to sell 22,600,000 common shares and warrants to purchase 11,300,000common shares. The warrants had an exercise price of $9.50 per share. The warrants would expire in five years, starting from the date of issuance, according to the company. Maxim Group LLC was acting as the sole placement agent for the offering.
What’s next for ANY stock?
The recent past has proved to be a positive time for ANY stock. The stock has increased by 44% during last one month and a massive 160% during last one quarter. The increase was mainly due to enhancements in mining operations of the company. Analysts believe that ANY stock would enjoy a successful time in near future.
