Sphere 3D Corp. (NASDAQ:ANY) shares climbed 28.11% to $5.15 in after-hours trading on Monday after the company announced the closing of its previously announced merger with Canadian digital infrastructure company Cathedra Bitcoin Inc. (OTC:CBTTF).
The court-approved plan of arrangement, originally entered Mar. 5, makes Cathedra a wholly-owned subsidiary of Sphere, which retains its NASDAQ listing under “ANY.”
Insider Filings
Joel Block, the newly appointed CEO of the combined company, said the enterprise is positioned to capitalize on “high-performance computing and digital asset infrastructure.” On Monday, Block disclosed beneficial ownership of 362,810 shares and RSUs as of closing in a Securities and Exchange Commission filing. Newly appointed independent director Nicholas Ray Gates also filed an SEC filing on the same date, …
