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SOURCE OTC Markets Group Inc.
NEW YORK, July 7, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM) congratulates Sphere 3D Corp. (TSX-V: ANY; OTCQX: SPIHF), a virtualization technology solution provider, on its approval to list on The NASDAQ Global Market. Sphere 3D is moving to NASDAQ tomorrow from the OTCQX® best marketplace, making it the fourth OTCQX company to graduate to a U.S. stock exchange this year.
Since it joined OTCQX on October 31, 2013, Sphere 3D's ordinary shares have increased 147% to $10.25 and its 30-day average daily dollar volume has increased 16%, reflecting increased investor interest in its securities. The company has a current market capitalization of $239 million.
"We applaud Sphere 3D on this important milestone," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Sphere 3D's success on OTCQX underscores the strength of its execution and the value of OTCQX as an efficient and informed public market for U.S. and global companies. We wish the company success as it takes this next step in its growth strategy."
"The OTCQX has played an important role preparing us for our listing on NASDAQ," said Peter Tassiopoulos, CEO of Sphere 3D.
OTCQX is the marketplace of choice for U.S. and global companies that are looking to execute their business plans and graduate to a U.S. stock exchange listing. Sphere 3D will be the twelfth company to graduate from OTCQX to the NYSE MKT or NASDAQ markets in the past year and a half. Others include: Altisource Asset Management Corp., American Eagle Energy Corp., B2Gold Corp., BioPath Holdings Inc., Empire Resources Inc., Energy Fuels Inc., Gulf Coast Ultra Deep Loyalty Trust, Organovo Holdings Inc., LiqTech International Inc., RXI Pharmaceuticals Corp. and Tiptree Financial Inc.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Stage Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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