Key Takeaways:
Cathedra Bitcoin Inc. (TSXV: CBIT) securityholders approved a plan of arrangement with Sphere 3D Corp. with 99.95 percent of the votes cast, the company announced on May 15, 2026. The transaction moves the bitcoin miner closer to a combination focused on digital infrastructure.
"We are very pleased to have received overwhelming support from our shareholders, marking an important milestone toward completing the Transaction with Sphere 3D," Joel Block, Chief Executive Officer of Cathedra, said. "We continue to work closely with Sphere as we advance toward an expected closing on June 1, 2026."
At the special meeting, holders of Cathedra's shares, warrants, options and restricted share units voted overwhelmingly in favor of the merger. The special resolution was approved by 99.95% of votes cast by shareholders and 99.95% of votes cast by all securityholders combined.
The merger is expected to close on June 1, 2026. The deal remains subject to a final order from the Supreme Court of British Columbia, with a hearing scheduled for May 25, 2026. The companies must also satisfy other customary closing conditions. The combination is intended to create a larger entity better positioned to grow in the market for power-optimized digital infrastructure, according to the companies.
This article is for informational purposes only and does not constitute investment advice.
