Sphere 3D Corp Regains Compliance with NASDAQ Listing Rule 5550(a)(2)

Sphere 3D Corp. (NASDAQ: ANY) recently announced in a Form 8-K filing submitted to the Securities and Exchange Commission that it has regained compliance with NASDAQ Listing Rule 5550(a)(2). This rule requires companies to maintain a minimum bid price of $1.00 per share over the previous 30 consecutive business days to stay listed on the NASDAQ Capital Market.

The company had received a notification letter from The Nasdaq Stock Market LLC on October 12, 2024, indicating non-compliance with the minimum bid price requirement. However, as of November 15, 2024, Sphere 3D Corp. received written notification from Nasdaq confirming that it has met the required standard, leading to the closure of this matter.

In addition to the compliance update, Sphere 3D Corp. disclosed in the same filing that on November 15, 2024, it issued a press release providing Bitcoin production and mining updates for October 2024. The information shared in the press release has been incorporated into the filing as Exhibit 99.1.

It is important to note that the information presented in this Current Report on Form 8-K, including the attached Exhibit 99.1, is considered furnished and not “filed” for purposes of the Securities Exchange Act of 1934. Moreover, this information is not subject to liabilities as outlined in Section 18 of the Exchange Act and does not automatically become part of any future filings under the Securities Act of 1933 or the Exchange Act, except when explicitly referenced in such filings.

Aside from the compliance update and disclosure on Bitcoin production, no other significant details were provided in the filing. Sphere 3D Corp. did not indicate any material financial or operational changes beyond the noted matters.

This filing concludes with the customary inclusion of Exhibit 99.1, which features the press release dated November 15, 2024, as well as the Cover Page Interactive Data File (embedded within the Inline XBRL document).

The report was duly signed on November 18, 2024, by Patricia Trompeter, Chief Executive Officer of Sphere 3D Corp., as authorized by the registrant in compliance with the requirements of the Securities Exchange Act of 1934.

For further information or details, interested parties are encouraged to refer to the official Form 8-K filing available on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sphere 3D’s 8K filing here.

About Sphere 3D

Sphere 3D Corp. engages in the bitcoin mining business. It is involved with digital asset mining pool operators to provide computing power to the mining pools. The company is based in Stamford, Connecticut.