Sphere 3D Corp. (NASDAQ:ANY) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 in its entirety to include a description of the assignment of the Credit Agreement (as defined below) from Opus Bank to CB CA SPV, LLC.
| Item 1.01 | Entry into a Material Agreement. |
On June 1, 2018, Sphere 3D Corp. (the “Company”), as borrower, certain of its subsidiaries, as guarantors, FBC Holdings S.A.R.L., as lender, entered into that certain Fourth Amendment to 8% Senior Secured Convertible Debenture, as amended from time to time (the “Debenture”), under which the maturity date of the Debenture was extended from May 31, 2018 to June 4, 2018.
Also on June 1, 2018, Overland Storage, Inc., together with Tandberg Data GmbH, as co-borrower, the Company and certain of the Company’s subsidiaries, as guarantors, and Opus Bank entered into that certain Amendment Number Nine to the Credit Agreement dated April 6, 2016, as amended from time to time (the “Credit Agreement” and, together with the Debenture, the “Debt Facilities”), under which, among other things, the maturity date of the loans owing to Opus under the Credit Agreement was extended from May 31, 2018 to June 4, 2018.
On June 4, 2018, the Company, as borrower, certain of its subsidiaries, as guarantors, FBC Holdings S.A.R.L., as lender, entered into that certain Fifth Amendment to the Debenture, under which the maturity date of the Debenture was extended from June 4, 2018 to June 15, 2018.
Also on June 4, 2018, Overland Storage, Inc., together with Tandberg Data GmbH, as co-borrower, the Company and certain of the Company’s subsidiaries, as guarantors, and Opus Bank entered into that certain Amendment Number Ten to the Credit Agreement, under which, among other things, the maturity date of the loans owing to Opus under the Credit Agreement was extended from June 4, 2018 to June 15, 2018.
Also on June 4, 2018, the Company and its subsidiaries consented to the assignment of the Credit Agreement from Opus Bank to CB CA SPV, LLC, which such assignment became effective on June 6, 2018.
The terms of the Debt Facilities otherwise remain unchanged.
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