Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Sphere 3D Corp. (“Sphere 3D” or the “Company”) (NASDAQ: ANY) with Rainmaker Worldwide Inc. (“Rainmaker”) (OTC Pink: RAKR). Under the terms of the merger, Rainmaker will merge with a company wholly-owned by Sphere 3D, and the merged entity will be a wholly-owned subsidiary of Sphere 3D. Rainmaker shareholders will receive 0.33 of a share of Sphere 3D for each whole share of Rainmaker exchanged and one-third of a warrant or option for each whole warrant or option then held by such Rainmaker shareholder.
The Sphere 3D merger investigation concerns whether the Board of Sphere 3D has harmed stockholders by agreeing to enter into this transaction and whether all material facts have been properly disclosed to stockholders.
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