Brief: Sphere 3D Announces Acquisition Of Rainmaker Worldwide

Rainmaker Worldwide

15/07/2020 12:55

July 15 (Reuters) - Rainmaker Worldwide:
    * SPHERE 3D ANNOUNCES ACQUISITION OF RAINMAKER WORLDWIDE
    * RAINMAKER WORLDWIDE - UPON CLOSING, SPHERE 3D’S NAME WILL
CHANGE
TO RAINMAKER WORLDWIDE INC., AND ITS BUSINESS MODEL WILL FOCUS
ON WATER-AS-A-SERVICE
    * RAINMAKER WORLDWIDE - RAINMAKER MANAGEMENT WILL ASSUME
LEADERSHIP OF THE COMBINED ENTITY
    * RAINMAKER WORLDWIDE - CO'S SHAREHOLDERS TO RECEIVE 0.33 OF
A
SHARE OF SPHERE 3D FOR EACH WHOLE SHARE OF CO EXCHANGED
    * RAINMAKER WORLDWIDE - CO'S SHAREHOLDERS TO RECEIVE
ONE-THIRD OF
WARRANT/OPTION FOR EACH WHOLE WARRANT/OPTION THEN HELD BY SUCH
RAINMAKER SHAREHOLDER
    * RAINMAKER WORLDWIDE -AFTER COMPLETION OF DEAL,EXPECTED
CURRENT
HOLDERS OF RAINMAKER WORLDWIDE TO OWN ABOUT 80% OF SPHERE 3D, ON
FULLY DILUTED BASIS
    * RAINMAKER WORLDWIDE - ON DEAL COMPLETION SPHERE 3D EXPECTS
TO
REMAIN LISTED ON NASDAQ MARKET & WILL CHANGE ITS NAME TO
RAINMAKER WORLDWIDE INC.

Source text: (https://bit.ly/32mauSm)
Further company coverage:  ANY.O   RAKR.PK 

 ((Reuters.Briefs@thomsonreuters.com;))