secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MICRO SOFTWARE, INC. (SMSI)
CIK:        0000948708
Form:       8-K
Filed at:   2022-08-11T23:59:59+00:00
Accession:  0000948708-22-000013
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith Micro raises $18M via $15M convertible notes and $3M registered direct offering
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- Issued $15M senior secured convertible notes with conversion price of $3.35/share (20% premium to 15-day VWAP) and warrants for 2.2M shares at $3.35.
- Concurrent registered direct offering of 1.13M shares plus warrants at $2.65/share for $3M gross proceeds; expected close August 12, 2022.
- Terminated existing $7M Wells Fargo revolving credit facility; no early termination penalties incurred.
- Net proceeds to be used for general corporate and working capital purposes.
- Roth Capital Partners and Dawson James served as financial advisors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/948708/000094870822000013/0000948708-22-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/948708/000094870822000013/smsi-20220811.htm
  HTML page:      https://secwatch.observer/filing/0000948708-22-000013

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