Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders. Sphere 3D shareholders are expected to own approximately 62% of the company and Gryphon shareholders will own the remaining 38%. Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
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Written by Bankerage Published on November 16, 2021