Phunware secures $30M equity line from Lincoln Park Capital, issues 1.36M commitment shares

Phunware, Inc.

Up to $30M of common stock may be sold to Lincoln Park over 24 months at Company's discretion.
Initial commitment fee of 1,360,503 shares issued; additional 680,252 shares possible pro rata as draws occur.
Regular purchase limit up to 650,000 shares per day (depending on stock price); Accelerated purchases at 96% of VWAP.
Exchange Cap of 24,246,099 shares (19.99% of outstanding) unless stockholder approval or average price condition met.
Proceeds to be used for working capital and general corporate purposes; floor price $0.10 per share.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Phunware, Inc. entered into Purchase Agreement with Lincoln Park Capital Fund, LLC valued at $30,000,000 (effective 2023-08-22).

Action: entry
Agreement: equity purchase
Counterparty: Lincoln Park Capital Fund, LLC
Value: $30,000,000
Effective: 2023-08-22

Exact text from the filing

On August 22, 2023, Phunware, Inc. (the “Company”) entered into a common stock Purchase Agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), which provides that

View on SEC.gov

281 material agreements filed in the last 30 days. Browse all material agreements →

Phunware, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-030429

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.