Sphere 3D Corp. (ANY)

[desarcmo]

Sphere 3D Granted Six Month Extension by NASDAQ

Feb 01, 2017 07:02:00 (ET)

Sphere 3D Granted Six Month Extension by NASDAQ

SAN JOSE, Calif., Feb. 01, 2017 (GLOBE NEWSWIRE) -- Sphere 3D Corp. (NASDAQ:ANY) (the "Company"), a containerization, virtualization, and data management solutions provider, today announced that it has received a letter from the Listing Qualifications Staff of the Nasdaq Stock Market ("Nasdaq") granting the Company an extension until July 31, 2017 to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Rule").

If at any time before July 31, 2017, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will regain compliance with the Rule, and the matter will be closed. If the Company does not regain compliance with the Rule by July 31, 2017 the Company may be subject to delisting from NASDAQ. In connection with the grant of the extension to regain compliance with the Rule, the listing of the Company's common shares will be transferred, at the Company's request, to the NASDAQ Capital Market under the existing ticker symbol (ANY) at the opening of business on February 2, 2017.