---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-030429"
form_type: "8-K"
ticker: "PHUN"
cik: "0001665300"
company_name: "Phunware, Inc."
filed_at: "2023-08-23T23:59:59+00:00"
generated_at: "2026-06-11T04:52:39.208373+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-030429
- form_type: 8-K
- ticker: PHUN
- cik: 0001665300
- company_name: Phunware, Inc.
- filed_at: 2023-08-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1665300/000162828023030429/0001628280-23-030429-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1665300/000162828023030429/phun-20230822.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-030429
- JSON: https://secwatch.observer/filing/0001628280-23-030429.json
- Plain text: https://secwatch.observer/filing/0001628280-23-030429.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000162828023030429/0001628280-23-030429-index.htm

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