Sphere 3D Corp. (ANY) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: June 03, 2026

Risk Assessment Details

Potential Dilution: 2157.95% of current shares
Recent Dilution: 54.06% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
3.8M
Potential Supply
81M
Additional shares possible
Splits
None
Past 2 years

Summary

ANY currently has 3.77M outstanding shares. with significant dilution risk as 81.3M authorized shares could dilute existing holders by 2158.0%. The company has significantly diluted shareholders by 54.06% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 03, 2026

8-K filing: Sphere completed an exchange of equity securities in connection with the Arrangement Agreement, including common shares, Series I preferred shares, restricted share units, and warrants.

3.8M 81M
Mar 27, 2026

10-K filing | 3.8M shares outstanding

3.8M 81M
Dec 22, 2025

8-K filing: Sphere 3D Corp. granted 500,000 restricted stock units to Tiah Reppas valued at $232,550, based upon the common share price on the date of grant of $0.4651.

34M 51M
Nov 21, 2025

S-3 filing: This is an S-3 filing for the registration of common shares by a selling stockholder. The filing outlines the terms of the offering, including potential underwriting arrangements and legal matters.

34M 51M
Nov 04, 2025

10-Q filing | 33.7M shares outstanding

34M 51M
Oct 17, 2025

8-K filing: Sphere 3D Corp. entered into a warrant inducement offer letter with a purchaser to exercise existing warrants and issue new warrants, potentially generating $4 million in gross proceeds. ($4.0M proceeds)

28M 57M
Aug 05, 2025

10-Q filing | 27.7M shares outstanding

28M 57M
May 14, 2025

10-Q filing | 27.2M shares outstanding

27M 58M
Apr 28, 2025

8-K filing: On April 22, 2025, Sphere 3D Corp. entered into an amended and restated employment agreement with Kurt Kalbfleisch, under which Mr. Kalbfleisch received 1,000,000 restricted stock units valued at $493,000 based upon a common share price of $0.493 on the date of the grant. ($0.49M proceeds)

26M 59M
Mar 28, 2025

10-K filing | 26.2M shares outstanding

26M 59M
Dec 19, 2024

S-3 filing: This S-3 filing outlines a registered direct offering of common shares and pre-funded warrants, as well as the offering of common shares issuable upon the exercise of outstanding common share purchase warrants.

24M 61M
Nov 21, 2024

8-K filing: Sphere 3D Corp. entered into a Securities Purchase Agreement to issue and sell 2,350,000 common shares and pre-funded warrants to purchase up to 1,875,353 common shares in a registered offering, and warrants to purchase up to 4,225,353 common shares in a concurrent private placement, with gross proceeds of approximately $6 million.

21M 56M
Nov 14, 2024

10-Q filing | 20.7M shares outstanding

21M 56M
Oct 10, 2024

S-3/A filing: This S-3/A filing reflects updates to the prospectus, including potential changes in the volume of securities offered within a 20% range of the maximum aggregate offering price.

21M 56M
Aug 27, 2024

S-3/A filing: Sphere 3D Corp. may offer and sell common shares, preferred shares, debt securities, warrants and units up to an aggregate offering price of $100,000,000.

21M 56M
Aug 13, 2024

S-3/A filing: Sphere 3D Corp. may offer and sell common shares, preferred shares, debt securities, warrants and units for up to $100,000,000.

21M 56M
Aug 13, 2024

10-Q filing | 20.9M shares outstanding

21M 56M
Jul 25, 2024

S-3/A filing: Sphere 3D Corp. may offer and sell from time to time common shares, preferred shares, debt securities, warrants and units in any combination from time to time in one or more offerings, at prices and on terms described in one or more supplements to this prospectus. The securities offered by this prospectus will have an aggregate offering price of up to $100,000,000.

21M 56M
May 13, 2024

10-Q filing | 16.6M shares outstanding

17M 19M
May 07, 2024

S-3/A filing: Sphere 3D Corp. files an S-3/A to offer common shares, preferred shares, and debt securities with an aggregate offering price of up to $100,000,000.

18M 17M
Apr 29, 2024

RW filing: The Registration Statement was filed in order to register for resale of up to 19,655,115 of the Registrant's common shares by the selling shareholders identified in the Registration Statement, which are issuable to them upon exercise of warrants held by them.

18M 18M
Mar 29, 2024

8-K filing: Sphere 3D Corp. amended employment agreements for the CEO and CFO, including salary adjustments and restricted stock unit grants.

18M 18M
Mar 13, 2024

10-K filing | 17.8M shares outstanding

18M 18M
Nov 13, 2023

10-Q filing | 14.4M shares outstanding

14M 22M
Aug 14, 2023

10-Q filing | 11.1M shares outstanding

11M 25M
Aug 14, 2023

8-K filing: Sphere 3D Corp. issued 13,764 Series H Preferred Shares and 1,966,292 Common Share Purchase Warrants to institutional investors for $3,500,000, and also issued 1,376 Series H Shares and 800,000 Warrants to Hertford Advisors Ltd. ($7.0M proceeds)

450K 36M
Jun 28, 2023
Stock Split

8-K filing: Stock split 1-for-7 | Outstanding: 3,162,500 → 451,785

450K 36M
May 17, 2023

S-3 filing: This S-3 filing discusses the company's services and products, investment in a special purpose acquisition company (MEOA), and details regarding founder shares and private placement warrants.

3.2M 250M
May 11, 2023

10-Q filing | 72.0M shares outstanding

72M 180M
Apr 21, 2023

8-K filing: Sphere 3D Corp. entered into a Securities Purchase Agreement with LDA Capital Limited, issuing a Senior Convertible Promissory Note for $1,000,000 and a warrant to purchase up to 3,191,489 common shares.

74M 180M
Mar 31, 2023

10-K filing | 73.9M shares outstanding

74M 180M
Feb 09, 2023

S-3 filing: Sphere 3D Corp. may offer and sell common shares, preferred shares, debt securities, warrants and units up to an aggregate offering price of $100,000,000.

72M 180M
Mar 31, 2022

20-F filing | 63.6M shares outstanding

64M 0
Aug 26, 2021

F-3 filing: Sphere 3D Corp. may offer and sell common shares, preferred shares, debt securities, warrants and units of Sphere 3D Corp. in any combination from time to time in one or more offerings, at prices and on terms described in one or more supplements to this prospectus. The securities offered by this prospectus will have an aggregate offering price of up to $250,000,000.

7.9M 9.9M
Apr 09, 2021

20-F filing | 7.9M shares outstanding

7.9M 9.9M
Mar 26, 2021

F-1 filing: This F-1 filing relates to the disposition of common shares and outlines the legal matters and expenses associated with the offering.

6.9M 11M
Nov 16, 2020

10-Q filing | 6.9M shares outstanding

6.9M 11M
Sep 29, 2020

8-K filing: Sphere 3D Corp. entered into an amendment to a share purchase agreement related to the issuance and sale of 3,000 Series E Convertible Preferred Shares for $3 million. ($3.0M proceeds)

7M 11M
Sep 18, 2020

8-K filing: Sphere 3D Corp. entered into a securities purchase agreement to issue and sell 3,000 shares of Series E Convertible Preferred Stock for $3 million, expected to close on or about September 30, 2020, subject to approvals. ($3.0M proceeds)

7M 11M
Aug 14, 2020

10-Q filing | 7.0M shares outstanding

7M 11M
Aug 07, 2020

8-K filing: Sphere 3D Corp. entered into a Share Purchase Agreement with Dale Allan Peters' 101250 Investments Ltd., issuing 480,000 common shares at $3.25 per share for a total purchase price of $1,560,000. Sphere also entered into a Promissory Note with Rainmaker Worldwide Inc., loaning $150,000 at 10% per annum. ($1.56M proceeds)

5.5M 12M
Jul 31, 2020

8-K filing: Sphere 3D Corp. entered into a Securities Purchase Agreement with Oasis Capital, LLC, receiving $500,000 and issuing a promissory note with an aggregate principal amount of $615,000 and 90,000 shares of common stock. ($0.5M proceeds)

5.5M 12M
Jul 17, 2020

8-K filing: Sphere 3D Corp. entered into a lock-up agreement with FBC Holdings S árl regarding 6,500,000 Series B Preferred Shares owned by FBC, restricting conversion into common shares until April 30, 2021, or 180 days after a Change of Control.

5.5M 12M
Jun 25, 2020

S-1/A filing: This S-1/A filing relates to the resale of common stock by selling stockholders, an equity line with Oasis Capital, and an offering of units consisting of convertible debentures and warrants.

5.5M 12M
Jun 24, 2020

10-Q filing | 5.5M shares outstanding

5.5M 19M
May 20, 2020

S-1 filing: This S-1 filing details the offering of common stock by selling stockholders, including shares underlying preferred stock, warrants, and agreements with Oasis Capital and ROK Consulting Inc. Also, describes a convertible note offering.

4.6M 20M
May 19, 2020

8-K filing: Sphere 3D Corp. entered into an $11 million equity purchase agreement with Oasis Capital, LLC, and issued 77,465 shares of Common Stock to Oasis Capital as a commitment fee.

4.6M 0
May 14, 2020

10-K filing | 4.6M shares outstanding

4.6M 0
May 04, 2020

8-K filing: Sphere 3D Corp. entered into a Securities Purchase Agreement to issue 847,000 shares of Series D Convertible Preferred Stock and warrants to purchase up to 847,000 shares of common stock in a private placement for $1,100,000. ($1.1M proceeds)

N/A 0
Mar 27, 2020

8-K filing: Sphere 3D Corp. entered into subscription agreements for the purchase and sale of 725 units for aggregate gross proceeds of up to $725,000.00, with each unit consisting of a convertible debenture and a warrant to purchase common shares. ($1.45M proceeds)

N/A 0
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime