---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-041237"
form_type: "8-K"
ticker: "PHUN"
cik: "0001665300"
company_name: "Phunware, Inc."
filed_at: "2023-12-11T23:59:59+00:00"
generated_at: "2026-06-07T14:55:46.010177+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Phunware closes $2.8M public offering of ~46.7M shares at $0.06; shares dilute existing holders by ~40%

## Summary
- Offered 33,215,334 shares of common stock plus 13,451,333 pre-funded warrants; gross proceeds ~$2.8M.
- Shares priced at $0.06; pre-funded warrants at $0.059; placement agent Roth Capital received 7% cash fee.
- Net proceeds for working capital and expansion of product initiatives (patent portfolio, PhunCoin, PhunToken).
- Company and officers subject to 60-day lock-up on share sales; no variable-rate transactions for 60 days.
- Offering closed Dec 11, 2023 under effective Form S-3 shelf registration (File 333-262461).

## SEC filing metadata
- accession: 0001628280-23-041237
- form_type: 8-K
- ticker: PHUN
- cik: 0001665300
- company_name: Phunware, Inc.
- filed_at: 2023-12-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1665300/000162828023041237/0001628280-23-041237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1665300/000162828023041237/phun-20231207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-041237
- JSON: https://secwatch.observer/filing/0001628280-23-041237.json
- Plain text: https://secwatch.observer/filing/0001628280-23-041237.txt

## Key facts
- Material Agreements
  Phunware, Inc. entered into Securities Purchase Agreement with institutional investors valued at purchase of 33,215,334 shares of common stock and pre-funded warrants for approximately $2.8 million (effective 2023-12-07).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: institutional investors
  - Value: purchase of 33,215,334 shares of common stock and pre-funded warrants for approximately $2.8 million
  - Effective: 2023-12-07
  source text: On December 7, 2023, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000162828023041237/0001628280-23-041237-index.htm
- Material Agreements
  Phunware, Inc. entered into Placement Agency Agreement with Roth Capital Partners, LLC valued at 7.0% cash fee of gross proceeds plus up to $60,000 for legal fees (effective 2023-12-07).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Roth Capital Partners, LLC
  - Value: 7.0% cash fee of gross proceeds plus up to $60,000 for legal fees
  - Effective: 2023-12-07
  source text: Roth Capital Partners ., LLC (“Roth”) acted as the Company’s exclusive placement agent in connection with the Offering pursuant to a Placement Agency Agreement dated December 7, 2023 (the “Placement Agency Agreement“) between Roth and the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000162828023041237/0001628280-23-041237-index.htm

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