Phunware raises $10M via public offering of 40M shares at $0.25/share

Phunware, Inc.

40M shares sold at $0.25 per share; gross proceeds ~$10M, closing on Feb 9, 2024.
Net proceeds for working capital and product initiatives including PhunCoin/PhunToken.
Lock-up on officers/directors for 31 days; company restricted from variable rate transactions for 31 days.
Roth Capital Partners placement agent with 7.0% cash fee and up to $60k expenses.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Phunware, Inc. entered into Purchase Agreements with certain institutional investors valued at aggregate of 40,000,000 shares (effective 2024-02-07).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: aggregate of 40,000,000 shares
Effective: 2024-02-07

Exact text from the filing

on February 7, 2024, the Company entered into securities purchase agreements (the “Purchase Agreements”) with certain institutional investors

View on SEC.gov

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Phunware, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-004091

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