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Sphere 3D Receives Second Unsolicited Proposal

To buy certain assets of Overland and Tandberg
This is a Press Release edited by on 2016.12.20

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Sphere 3D Corp., a containerization, virtualization, and data management solutions provider, has received an unsolicited proposal for certain assets of the company.

This is a separate proposal from an earlier expression of interest submitted by a different third party, as previously announced by the company.

The company will evaluate these and other potential transactions that could seek to increase shareholder value. The company views this second unsolicited proposal as a further indication of confidence in its business. At the appropriate time, the company will retain financial advisors to provide valuation and other guidance.

As the company reviews the proposals, it remains focused on executing its strategic plan and achieving profitability.