Sphere 3D Corp. (ANY)

[commoncentsinvestor]

Just wondering.

"Under the terms of the Merger Agreement, Sphere 3D will issue a total of 9,443,882 common shares (“Common Shares”) on closing, subject to adjustment, for all of the outstanding share capital of Overland (“Overland Shares”) on the basis of one Overland Share for 0.510594 Common Shares of Sphere 3D (the “Exchange Ratio”)."

At the time of the closing, if ANY's share price is $10, then the cost of the deal (exclusive of warrants & options) would be about $95M. However, if ANY's price is $8, then the cost of the deal would be about $75M.

Is there any advantage in showing (at least on paper) that the deal is costing $20M less? If so, could that be a reason for the seeming blackout on ANY news recently even though there seems to be plenty going on behind the scenes?