Sphere 3D Corp. — Registration Form 2018

Nov 14, 2018

S-8 1 forms8.htm FORM S-8 Sphere 3D Corp. - Form S-8 - Filed by newsfilecorp.com

As filed with the Securities and Exchange Commission on November 14, 2018

Registration No. ______

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______

FORM S-8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 _______

SPHERE 3D CORP. (Exact Name of Registrant as Specified in Its Charter) _______

Ontario, Canada	98-1220792
(State or Other Jurisdiction of	(I.R.S. Employer
Incorporation or Organization)	Identification No.)

895 Don Mills Road, Bldg. 2, Suite 900 Toronto, Ontario M3C 1W3 (Address, Including Zip Code, of Principal Executive Offices) _______

Sphere 3D Corp. 2015 Performance Incentive Plan (Full Title of the Plan) _______

Eric L. Kelly Chief Executive Officer 4542 Ruffner Street, Suite 250 San Diego, California 92111 (858) 571-5555 (Name, Address and Telephone Number, Including Area Code, of Agent for Service)

COPY TO:

Warren T. Lazarow, Esq. Paul Sieben, Esq. O’Melveny & Myers LLP 2765 Sand Hill Road Menlo Park, California 94025 (650) 473-2600 _______

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

| Large accelerated filer [ ] | Accelerated
filer [
] |
| --- | --- |
| Non-accelerated filer [ ] | Smaller reporting company [X] |
| (Do not
check if a smaller reporting company) | |
| | Emerging growth company [X] |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. [ ]

CALCULATION OF REGISTRATION FEE		Proposed	Proposed
		Maximum	Maximum
Title of	Amount	Offering	Aggregate	Amount Of
Securities	To Be	Price	Offering	Registration
To
Be Registered	Registered	Per
Share	Price	Fee
Common Shares, no par value
per share, issuable pursuant to awards granted under the Sphere 3D Corp.
2015 Performance Incentive Plan	382,500 (1) shares	$1.74 (2)	$665,550 (2)	$80.66

| (1) | This Registration Statement covers, in addition to the
number of common shares, no par value per share (the “Common Shares”) of
Sphere 3D Corp., a corporation incorporated under the laws of the Province
of Ontario (the “Company” or the “Registrant”), stated above, options and
other rights to purchase or acquire Common Shares covered by this
Registration Statement and, pursuant to Rule 416 under the Securities Act
of 1933, as amended (the “Securities Act”), an additional indeterminate
number of shares, options and rights that may be offered or issued
pursuant to the Sphere 3D Corp. 2015 Performance Incentive Plan (the
“Plan”) as a result of one or more adjustments under the Plan to prevent
dilution resulting from one or more stock splits, stock dividends or
similar transactions. |
| --- | --- |
| (2) | Estimated solely for the purpose of calculating the
registration fee in accordance with Rule 457(h) and 457(c) under the
Securities Act, based upon the average of the high and low prices of the
Common Shares on November 13, 2018 (which is within five business days
prior to the date of this filing), as quoted on the Nasdaq Global Select
Market. |

The Exhibit Index for this Registration Statement is at page 7.

EXPLANATORY NOTE

This Registration Statement is filed by the Company to register additional securities issuable pursuant to the Plan and consists of only those items required by General Instruction E to Form S-8. The number of shares registered hereby has been adjusted to reflect the Company’s one-for-eight reverse stock split effective November 5, 2018.

________

PART I

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

The document(s) containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Securities Act Rule 428(b)(1).

PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Certain Documents by Reference

The following documents of the Company filed with the Securities and Exchange Commission (the “Commission”) are incorporated herein by reference:

| (a) | The Company’s Registration Statements on Form S-8, filed
with the Commission on June 25, 2015 (Commission File No. 333-205236),
November 15, 2016 (Commission File No. 333-214605), February 24, 2017
(Commission File No. 333-216209), August 24, 2017 (Commission File No.
333-220152), January 29, 2018 (Commission File No. 222771); |
| --- | --- |
| (b) | The Company’s Annual Report on Form 10-K for its fiscal
year ended December 31, 2017, filed with the Commission on March 21, 2018
(Commission File No. 001-36532); |
| (c) | The Company’s Quarterly Reports on Form 10-Q for its
fiscal quarters ended March 31, 2018, June 30, 2018 and September 30,
2018, filed with the Commission on May 10, 2018, August 14, 2018 and
November 7, 2018, respectively (each, Commission File No.
001-36532); |
| (d) | The Company’s Current Reports on Form 8-K, filed with the
Commission on February 21, 2018, March 19, 2018, April 2, 2018, April 17,
2018, May 10, 2018 (with respect to Item 8.01 only), May 31, 2018, June 4,
2018, June 6, 2018 (as amended by Form 8-K/A, filed with the Commission on
June 7, 2018), June 19, 2018, July 3, 2018, July 19, 2018, July 25, 2018,
August 13, 2018, August 16, 2018, August 21, 2018, October 2, 2018,
November 2, 2018, November 5, 2018 and November 14, 2018 (each, Commission File No.
001-36532); and |
| (e) | The description of the Company’s common shares contained
in its Registration Statement on Form 8-A (File No. 001-36532) filed with
the Commission on July 7, 2014 pursuant to Section 12 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and any other
amendment or report filed for the purpose of updating such
description. |

All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with Commission rules shall not be deemed incorporated by reference into this Registration Statement. Any statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or amended, to constitute a part of this Registration Statement.

Item 5. Interests of Named Experts and Counsel

Not applicable.

Item 6. Indemnification of Directors and Officers

Under the Business Corporations Act (Ontario), the Company may indemnify a director or officer, a former director or officer or another individual who acts or acted at the Company’s request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the Company or another entity on condition that (i) the individual acted honestly and in good faith with a view to the Company’s best interests or, as the case may be, to the best interests of the other entity for which the individual acted as a director or officer or in a similar capacity at the Company’s request, and (ii) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the individual also had reasonable grounds for believing that his or her conduct was lawful. Further, the Company may, with court approval, indemnify an individual described above in respect of an action by or on the Company’s behalf or other entity to obtain a judgment in its favor, to which the individual is made a party because of the individual’s association with the Company or another entity, against all costs, charges and expenses reasonably incurred by the individual in connection with such action if the individual fulfills condition (i) above. An individual as described above is entitled as a matter of right to indemnification from the Company in respect of all costs, charges and expenses reasonably incurred by such individual in connection with the defense of any civil, criminal, administrative, investigative or other proceedings to which such individual is subject if he or she was not judged by a court or other competent authority to have committed any fault or omitted to do anything that he or she ought to have done, and has fulfilled conditions (i) and (ii) above.

In accordance with the Business Corporations Act (Ontario), the Company has agreed to indemnify each of the Company’s directors and officers against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by such individual in respect of any civil, criminal, administrative action or proceeding in which such individual is involved by reason of his or her association with the Company or another entity if such individual acted honestly and in good faith with a view to the best interests of the Company or such other entity, and such individual had reasonable grounds for believing that his or her conduct was lawful.

The Company maintains a policy of directors’ and officers’ liability insurance, which insures directors and officers for losses as a result of claims against the Company’s directors and officers in their capacity as directors and officers and also reimburses the Company for payments made pursuant to the indemnity provisions under the Company’s bylaws and the Business Corporations Act (Ontario).

Item 8. Exhibits

See the attached Exhibit Index at page 7, which is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Form S-8 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Jose, State of California, on November 14, 2018.

SPHERE 3D CORP.

By:
Eric Kelly
Chief Executive Officer

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POWER OF ATTORNEY

Each person whose signature appears below constitutes and appoints Eric Kelly and Peter Tassiopoulos, or either one or both of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments, exhibits thereto and other documents in connection therewith) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

Signature	Title	Date
/s/ Eric Kelly	Chairman of the Board and Chief Executive
Officer	November 14, 2018
Eric Kelly	(Principal Executive
Officer)
/s/ Kurt Kalbfleisch	Chief Financial Officer	November 14, 2018
Kurt Kalbfleisch	(Principal Financial and Accounting Officer)
/s/ Cheemin Bo-Linn	Director	November 14, 2018
Cheemin Bo-Linn
/s/ Vivekanand Mahadevan	Director	November 14, 2018
Vivekanand Mahadevan
/s/ Duncan McEwan	Director	November 14, 2018
Duncan McEwan
/s/ Peter Tassiopoulos	Director	November 14, 2018
Peter Tassiopoulos

5

SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES

Pursuant to the requirements of the Securities Act, the undersigned, the duly authorized representative in the United States of the Registrant, has signed this registration statement in the City of San Jose, State of California on November 14, 2018.

AUTHORIZED U.S. REPRESENTATIVE

By:
Eric Kelly
Chairman of the Board and Chief Executive
Officer

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EXHIBIT INDEX

Exhibit
Number	Description of Exhibit
4	Sphere 3D Corp.
2015 Performance Incentive Plan.
5	Opinion of
Stikeman Elliot LLP (opinion re legality).
23.1	Consent of Moss Adams LLP (consent of independent
registered public accounting firm).
23.2	Consent of
Counsel (included in Exhibit 5).
24	Power of Attorney
(included in this Registration Statement under “Signatures”).

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