secwatch.observer — SEC 8-K summary
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Issuer:     Phunware, Inc. (PHUN)
CIK:        0001665300
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001628280-24-007571
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.03, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phunware implements 1-for-50 reverse stock split to regain Nasdaq compliance
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- Reverse stock split ratio 1-for-50 effective 5:00 PM ET Feb 26, 2024; trading begins Feb 27.
- Post-split shares outstanding approx. 8 million; no fractional shares, rounding up to whole share.
- Purpose: increase market price to meet Nasdaq minimum bid continued listing requirement.
- New CUSIP 71948P 209; par value unchanged at $0.0001; trading symbol remains PHUN.
- Stockholders authorized split at Dec 20, 2023 annual meeting; Board set final ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1665300/000162828024007571/0001628280-24-007571-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1665300/000162828024007571/phun-20240223.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-007571

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