SPHERE 3D CORP. (NASDAQ:ANY) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Agreement.
On August 16, 2018, Sphere 3D Corp. (the “Company”) and certain of the Company’s subsidiaries signed the assignment of the Credit Agreement, dated as of April 6, 2016, by and among Overland Storage, Inc. and Tandberg Data GmbH, as borrowers, CB CA SPV, LLC (as successor to Opus Bank), as lender, and each of the other parties party thereto, from CB CA SPV, LLC to FBC Holdings S.A R.L. (“FBC”), which such assignment became effective on August 16, 2018 (the “Assignment”).
In connection with the Assignment, the Company and Overland Storage also received from FBC (i) a waiver of the defaults and cross-defaults under the Credit Agreement and that certain 8% Senior Secured Convertible Debenture, as amended from time to time (the “Debenture”), respectively, and (ii) a revocation of the demand that all amounts payable under the Credit Agreement and Debenture are immediately and due and payable.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| 99.1 | Press release dated August 16, 2018 |
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Sphere 3D Corp ExhibitEX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Sphere 3D Corp. – Exhibit 99.1 – Filed by newsfilecorp.com Exhibit 99.1 Sphere 3D Announces Assignment of Debt and Withdrawal of Default Notices on all Existing Credit Facilities SAN JOSE,…To view the full exhibit click here
