---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-003194"
form_type: "8-K"
ticker: "SMSI"
cik: "0000948708"
company_name: "SMITH MICRO SOFTWARE, INC."
filed_at: "2026-02-05T23:59:59+00:00"
generated_at: "2026-05-16T04:45:40.862480+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Smith Micro secures $1M secured loan from CEO trust at 15% interest, matures March 31, 2026

## Summary
- Gross proceeds ~$1M: ~$815K loan + ~$185K for warrant purchase from William W. Smith, Jr.'s trust.
- Loan bears 15% annual interest, secured by accounts receivable and other assets.
- Maturity date March 31, 2026; prepayable anytime without penalty.
- Warrants issued with $0.68 exercise price, exercisable from Aug 3, 2026 to Aug 3, 2031.
- Proceeds for working capital; transaction approved by Board and Audit Committee.

## SEC filing metadata
- accession: 0001437749-26-003194
- form_type: 8-K
- ticker: SMSI
- cik: 0000948708
- company_name: SMITH MICRO SOFTWARE, INC.
- filed_at: 2026-02-05T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/948708/000143774926003194/0001437749-26-003194-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/948708/000143774926003194/smsi20260205_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-003194
- JSON: https://secwatch.observer/filing/0001437749-26-003194.json
- Plain text: https://secwatch.observer/filing/0001437749-26-003194.txt

## Key facts
- Debt Financings
  SMITH MICRO SOFTWARE, INC. incurred loan of approximately $1,000,000 with Smith Living Trust at 15.0% per annum maturing March 31, 2026.
  - Instrument: loan
  - Principal: approximately $1,000,000
  - Counterparty: Smith Living Trust
  - Rate: 15.0% per annum
  - Maturity: March 31, 2026
  - Event: incurrence
  source text: of $0.68 and will be exercisable during the period beginning August 3, 2026 and ending August 3, 2031. The gross proceeds to the Company from the closing totals approximately $1,000,000 (comprised of approximately $814,979 as a loan and approximately $185,021 for the purchase of the accompanying Warrant), before deducting transaction expenses payable by the
  evidence_url: https://www.sec.gov/Archives/edgar/data/948708/000143774926003194/0001437749-26-003194-index.htm
- Equity Issuances
  SMITH MICRO SOFTWARE, INC. issued warrant to Smith (Smith Living Trust, for which William W. Smith, Jr. and Dieva L. Smith serve as co-trustees) for approximately $185,021 for the purchase of the accompanying Warrant.
  - Security: warrant
  - Purchaser: Smith (Smith Living Trust, for which William W. Smith, Jr. and Dieva L. Smith serve as co-trustees)
  - Consideration: approximately $185,021 for the purchase of the accompanying Warrant
  source text: On February 3, 2026, the Company and Smith completed a closing of a loan transaction under the Note Agreement, and the Company issued a Note and a Warrant to Smith pursuant to the terms of the Note Agreement. The Warrant has an exercise price of $0.68 and will be exercisable during the period beginning August 3, 2026 and ending August 3, 2031. The gross proceeds to the Company from the closing totals approximately $1,000,000 (comprised of approximately $814,979 as a loan and approximately $185,021 for the purchase of the accompanying Warrant)
  evidence_url: https://www.sec.gov/Archives/edgar/data/948708/000143774926003194/0001437749-26-003194-index.htm
- Material Agreements
  SMITH MICRO SOFTWARE, INC. entered into Note Agreement with Smith Living Trust valued at approximately $1,000,000 (effective 2026-02-03).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Smith Living Trust
  - Value: approximately $1,000,000
  - Effective: 2026-02-03
  source text: On February 3, 2026, Smith Micro Software, Inc. (the “Company”) entered into a Note Purchase Agreement (the “Note Agreement”) with the Smith Living Trust, for which William W. Smith, Jr., the Company’s chairman, president and chief executive officer, and his wife, Dieva L. Smith, serve as co-trustees (“Smith”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/948708/000143774926003194/0001437749-26-003194-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.