Below are the terms of the merger per the May 16th PR which is listed above on the Sphere 3D page of IHUB.
"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"). In addition, Sphere 3D will issue 1,467,906 warrants, 143,325 options and 505,321 restricted share units, or equivalents, in exchange for the outstanding convertible securities of Overland, calculated on the basis of the Exchange Ratio."
E*Trade shows ANY currently has 23.6MM shares outstanding.
I am not up on any other options or warrants or other types of holdings that would add to the outstanding shares count. I have to think with the caliber of recent hirees they have been promised a lot of stock options but I just don't know what that entails.
If you take the 23.6MM + 9.44MM -800K + 1.468MM + 143.3K +505K from the numbers given above (and the -800K are for shares of ANY OVRL already owns) the figure is right around 34-35MM which is what I thought we were suppose to be at.
I understand your worry but if ANY is going to perform as I expect it to perform in regards to revenue generation, this share count is ridiculously low. I expect a forward split by the middle of next year but that is just my WAG. If we have a ton of big names/funds trying to get in, who among the current holders is going to sell to let them in? This is among the most knowledgeable group of investors I have been around and when you consider what mgt and inside financial institutions already hold and the remaining float is largely held by this board's members and other subscribers to HTFBS,I just don't know too many that will let their shares go for a quick gain when they know they have a possible golden ring staring them in the face within a year or two.
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