8-K
filed December 22, 2023, 6:59 PM ET
ticker PHUN
CIK 0001665300
regulatory
confidence high
sentiment negative
materiality 0.90
Phunware, Inc. (PHUN): Nasdaq/NYSE listing notice — Phunware receives Nasdaq delisting notice; stockholders approve reverse stock split
Phunware, Inc.
- Nasdaq notified Phunware on Dec 21, 2023 that common stock bid price was $0.10 or less for 10 consecutive days, triggering delisting.
- Company appealed delisting on Dec 22, 2023, requesting a hearing before Nasdaq Hearings Panel; stock continues trading pending appeal.
- Stockholders approved reverse stock split at ratio from 1-for-10 to 1-for-50 (37.9M for, 18.4M against).
- Ratification of Marcum LLP as auditor and approvals of share issuances to Streeterville Capital and Lincoln Park Capital also passed.
Key facts
Extracted from this filing and checked against the source text.
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
Phunware, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A), 5810(c)(3)(A)(iii)).
- Exchange
- nasdaq
- Notice
- delisting notice
- Deficiency
- minimum bid price
- Rules
- 5550(a)(2), 5810(c)(3)(A), 5810(c)(3)(A)(iii)
Exact text from the filing
December 21, 2023, the Company received a letter from Nasdaq notifying the Company that, as of December 20, 2023, the Company's common stock had a closing bid price of $0.10 or less for ten consecutive trading days and that, consistent with Nasdaq Listing Rule 5810(c)(3)(A)(iii), the Nasdaq had determined to delist the Company's common stock from the Nasdaq Capital Market. The notice further provides that the Company has until December 28, 2023 to appeal the Nasdaq's decision to delist the Company's common stock. On December 22, 2023, the Company submitted a request for a hearing before the Na
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Phunware, Inc. shareholders approved Ratification of the appointment of Marcum LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-12-20 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-12-20
Exact text from the filing
Proposal For Against Withheld/ Abstentions Broker Non-Votes Ratification of the appointment of Marcum LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 50,295,042 5,246,129 929,619 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Phunware, Inc. shareholders approved Election of one Class II director to serve until the Company's 2026 Annual Meeting of Stockholders or until his successor are duly elected and qualified at the 2023-12-20 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-12-20
Exact text from the filing
Nominee For Against Withheld/ Abstentions Broker Non-Votes Ryan Costello 17,156,790 0 4,582,489 34,731,511
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Phunware, Inc. shareholders approved Approval, for the purposes of Nasdaq Listing Rule 5635, the issuance of shares of the Company's common stock to Streeterville Capital, LLC upon the conversion of an amended promissory note at the 2023-12-20 meeting.
- Outcome
- passed
- Meeting
- 2023-12-20
Exact text from the filing
Approval, for the purposes of Nasdaq Listing Rule 5635, the issuance of shares of the Company's common stock to Streeterville Capital, LLC upon the conversion of an amended promissory note 16,208,734 4,935,676 594,869 34,731,511
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Phunware, Inc. shareholders approved Approval, for the purposes of Nasdaq Listing Rule 5635, the issuance of shares of the Company's common stock to Lincoln Park Capital Fund, LLC pursuant to a stock purchase agreement between the Company and Lincoln Park at the 2023-12-20 meeting.
- Outcome
- passed
- Meeting
- 2023-12-20
Exact text from the filing
Approval, for the purposes of Nasdaq Listing Rule 5635, the issuance of shares of the Company's common stock to Lincoln Park Capital Fund, LLC pursuant to a stock purchase agreement between the Company and Lincoln Park 16,303,977 4,357,937 1,077,365 34,731,511
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Phunware, Inc. shareholders approved Approval of a proposed amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's common stock at a ratio ranging from 1-for-10 shares up to a ratio of 1-for-50 shares at the 2023-12-20 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-12-20
Exact text from the filing
Approval of a proposed amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's common stock at a ratio ranging from 1-for-10 shares up to a ratio of 1-for-50 shares 37,866,326 18,428,100 176,364 0
View on SEC.gov
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