Sphere 3D Announces Amendment of Opus Credit Agreement to Extend Maturity Date of Credit Facilities to March 31, 2018

Data Investing

Sphere 3D (NASDAQ:ANY) has announced the execution of an Amended Number Seven to Credit Agreement, Waiver and Reaffirmation by Overland Storage, Tandberg Data GmbH and Opus Bank. As quoted in the press release: Pursuant to the Credit Agreement dated April 6, 2016, Opus initially provided a $10 Millionrevolving credit facility and a $10 Million term loan facility. Under the …

Pursuant to the Credit Agreement dated April 6, 2016, Opus initially provided a $10 Millionrevolving credit facility and a $10 Million term loan facility. Under the terms of the Amendment, among other things, the maturity date for the revolving and term loan credit facilities was amended from October 31, 2017 to March 31, 2018, subject to certain events of acceleration.
The foregoing description of the Amendment does not purport to be complete, and is qualified in its entirety by reference to the Amendment, which is attached as Exhibit 99.1 to the Form 6-K filed by the Company with the Securities and Exchange Commission on September 20, 2017.

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