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Sphere 3d | SC 13G: Statement of acquisition of beneficial ownership by individuals-Hertford Advisors Ltd.(9.99%),Caravel Capital Fund Ltd.(9.99%), etc.

SEC announcement ·  Feb 12 18:20
Summary by Moomoo AI
On December 26, 2023, Sphere 3D Corp. experienced a significant filing event when Hertford Advisors Ltd., Caravel Capital Fund Ltd., Caravel Capital Investments, Inc., and Glen Gibbons collectively filed a Schedule 13G with the U.S. Securities and Exchange Commission. The filing indicates that these entities, due to their interconnected relationships and holdings, may be deemed to beneficially own an aggregate of 1,629,000 common shares of Sphere 3D, which are issuable upon the conversion of certain Series H Preferred Shares they hold. This represents approximately 9.99% of the company's outstanding shares. The conversion of the remaining Series H Preferred Shares is currently not exercisable due to a Beneficial Ownership Limitation, which prevents ownership exceeding 9.99% of the outstanding shares. The filing was certified by Eric Strachan, Director of Hertford Advisors Ltd., and Glen Gibbons, Director of both Caravel entities, on February 12, 2024. The addresses and organizational details of the reporting persons were also provided, with Hertford based in the Cayman Islands, Caravel entities in the Bahamas, and Mr. Gibbons being a Canadian citizen.
On December 26, 2023, Sphere 3D Corp. experienced a significant filing event when Hertford Advisors Ltd., Caravel Capital Fund Ltd., Caravel Capital Investments, Inc., and Glen Gibbons collectively filed a Schedule 13G with the U.S. Securities and Exchange Commission. The filing indicates that these entities, due to their interconnected relationships and holdings, may be deemed to beneficially own an aggregate of 1,629,000 common shares of Sphere 3D, which are issuable upon the conversion of certain Series H Preferred Shares they hold. This represents approximately 9.99% of the company's outstanding shares. The conversion of the remaining Series H Preferred Shares is currently not exercisable due to a Beneficial Ownership Limitation, which prevents ownership exceeding 9.99% of the outstanding shares. The filing was certified by Eric Strachan, Director of Hertford Advisors Ltd., and Glen Gibbons, Director of both Caravel entities, on February 12, 2024. The addresses and organizational details of the reporting persons were also provided, with Hertford based in the Cayman Islands, Caravel entities in the Bahamas, and Mr. Gibbons being a Canadian citizen.
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