secwatch.observer — SEC 8-K summary
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Issuer:     Phunware, Inc. (PHUN)
CIK:        0001665300
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0001628280-24-001968
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phunware raises ~$5.6M in registered direct offering of ~56M shares at $0.10/share
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- Gross proceeds ~$5.6M from sale of 54.8M shares and 1.2M pre-funded warrants at $0.10 per share.
- Directors and officers subject to 45-day lock-up from closing; investors granted 9-month participation right.
- Net proceeds for working capital and product initiatives including PhunCoin and PhunToken.
- Roth Capital Partners acted as sole placement agent with 7% cash fee and up to $60,000 in expenses.
- Offering expected to close on or about January 23, 2024, subject to customary closing conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1665300/000162828024001968/0001628280-24-001968-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1665300/000162828024001968/phun-20240118.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-001968

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer