According to a recent filing with the Securities and Exchange Commission, Stephen C. Freidheim‘s Cyrus Capital Partners raised its stake in Sphere 3D Corp. (NASDAQ:ANY) to 8.96 million shares representing about 25.6% of the company’s outstanding stock, from some 5.94 million shares held earlier. In another filing, Rock Springs Capital Management, led by Kris Jenner (pictured), Gordon Bussard and Graham McPhail disclosed holding 1.19 million shares of CARDIOME PHARMA CORP (NASDAQ:CRME), up from 565,000 shares held earlier. Following the increase, the position amasses 6.2% of the company’s outstanding shares.
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Cyrus Capital is a New York-based fund that was founded in 1999. Currently the firm has about $4.15 billion worth of regulatory assets under its management and the market value of its public equity portfolio stood at $1.12 billion, according to the last filing.
Sphere 3D Corp. (NASDAQ:ANY) provides virtualization technology and data management products coupled with workload optimized solutions through its brands including Glassware 2.0, SnapCLOUD, SnapScale, SnapServer, V3, RDX and NEO. So far this year, Sphere 3D Corp. (NASDAQ:ANY)’s stock has slid by more than 16%, while the Software Application industry has gained more than 10% during the same period. Clinton Group, which has been a shareholder of Sphere 3D for some time now recently sent a letter to the company’s Board of Directors, imploring them to consider a sale of the company given that the market valuation of the company is considerably smaller than what it deserves. The Group believes that such a sale could fetch a price in excess of $10 per share, which is considerably higher than the current $4.38 stock price.
According to its last 13F filing, Clinton Group held some 177,097 shares of Sphere 3D Corp. (NASDAQ:ANY) valued at $655,000 and also owned call options underlying 115,600 shares of the software company.
Let’s move on to Rock Springs and its latest filing. The Baltimore, Maryland-based Rock Springs Capital Management focuses on investing in healthcare companies, which amass around 90% of its $1.07 billion equity portfolio.