Smith Micro raises $4.1M in follow-on offering of 1.91M shares/equivalents at $2.15

SMITH MICRO SOFTWARE, INC.

Gross proceeds $4.1M from 1,910,000 common stock/equivalents at $2.15 per unit; warrants for 1,910,000 shares at $2.34.
Offering comprised 1,065,000 shares and 845,000 pre-funded warrants; private placement of common warrants for 1,910,000 shares.
Net proceeds to be used for working capital and general corporate purposes.
75-day lock-up on company equity issuance; 1-year ban on variable rate transactions; 90-day officer/director lock-up.
Roth Capital acted as placement agent, receiving 6% cash fee and 133,700 placement agent warrants at $2.86.

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

SMITH MICRO SOFTWARE, INC. entered into Purchase Agreement with certain institutional and accredited investors (effective 2024-05-10).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional and accredited investors
Effective: 2024-05-10

Exact text from the filing

On May 10, 2024, Smith Micro Software, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional and accredited investors (the “Purchasers”) relating to the registered direct offering and sale of an aggregate of 1,065,000 shares of the Company’s common stock

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290 material agreements filed in the last 30 days. Browse all material agreements →

SMITH MICRO SOFTWARE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-24-023227

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