Business News • MarketWire • Cyrus Group of Funds Acquires Additional Common Shares of Sphere 3D Corporation |
Cyrus Group of Funds Acquires Additional Common Shares of Sphere 3D Corporation |
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Cyrus Group of Funds Acquires Additional Common Shares of Sphere 3D Corporation
TORONTO, ONTARIO--(Marketwired - July 7, 2016) - Cyrus Capital Partners, L.P. ("CCP") announces that FBC Holdings Sàrl ("FBC"), an investment fund managed by CCP, received 1,109,712 common shares ("Common Shares") of Sphere 3D Corporation ("Sphere 3D") as an interest payment on the 8% senior secured convertible debenture in the principal amount $24,500,000 issued by Sphere 3D to FBC (the "Debenture"). The 1,109,712 Common Shares issued to FBC, which represent 2.21% of the 50,113,712 issued and outstanding Common Shares of Sphere 3D, were issued to satisfy an interest payment of $871,013.00, implying a value of $0.7849 per Common Share.
View More : http://www.marketwired.com/mw/release.do?id=2140619&sourceType=3
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