Benzinga | May 25, 2021 06:29AM EDT

Sphere 3D Raises $7M Via Secondary Equity Sale At 5.7% Discount

* Sphere 3D Corp (NASDAQ: ANY) has priced 5.6 million shares at $1.25 per share to raise $7 million in a secondary public offering.

* The offer price signifies a 5.7% discount to the Monday closing price of $1.325.

* The underwriters have 45 days to procure additional shares up to 0.84 million.

* The company held $493 thousand in cash and equivalents as of March 31, 2021.

* Price action: ANY shares traded lower by 4.15% at $1.27 in the premarket session on the last check Tuesday.