secwatch.observer — SEC 8-K summary
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Issuer:     Phunware, Inc. (PHUN)
CIK:        0001665300
Form:       8-K
Filed at:   2023-08-23T23:59:59+00:00
Accession:  0001628280-23-030429
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1665300/000162828023030429/0001628280-23-030429-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1665300/000162828023030429/phun-20230822.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-030429

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