Sphere 3D Corp (ANY)

[donkschmonk]

It was part of the last financing done at $8.50, they had also received a % of special warrants (short term) as a sweetener/incentive that were exercisable into a common share and a normal warrant with an exercise price of $11.50, hence, the $11.50 you see in the filing.

To give warrants as part of a financing is standard as giving additional upside to the people buying into the company at the above price, and also provides cash later on automatically to the company whenever they are exercised (like now the special warrants), or later the $11.50 warrants when exercised will go directly go to the cash till of Sphere as well.