debt
confidence high
sentiment negative
materiality 0.70
Phunware issues ~26M shares to Streeterville upon full conversion of $12.8M note
Phunware, Inc.
- Streeterville converted $1,604,622 to 5,611,155 shares on Feb 5, 2024; note paid-in-full.
- Total conversions: $2.9M each on Jan 23 (5.8M + 11.2M shares), $200k each in Nov 2023 (1.5M + 1.8M shares).
- Original $12.8M note from July 2022; amended Aug 2023 to require $800k monthly amortization.
- Conversion price is 90% of lower of prior day close or 5-day average closing price.