Phunware terminates $30M equity purchase agreement with Lincoln Park Capital

Phunware, Inc.

Terminated the August 22, 2023 Purchase Agreement effective October 25, 2024.
Agreement allowed sale of up to $30M of common stock over 24 months.
Under the agreement, Phunware sold 164,106 shares for proceeds of ~$978,000.
Company had the right to terminate for any reason with one business day notice.
Certain provisions survive termination as detailed in the agreement.

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