other material
confidence high
sentiment neutral
materiality 0.75
Smith Micro raises $6.9M in concurrent offerings; CEO invests $3M
SMITH MICRO SOFTWARE, INC.
- Registered direct offering: 3,321,881 shares at $1.165/share, gross ~$3.87M.
- Private placement with CEO: 2,575,107 shares at $1.165/share, gross ~$3.0M.
- Each warrant exercisable at $1.04/share, 6-month lockout, 5-year term.
- Net proceeds to be used for working capital and general corporate purposes.
- Roth Capital receives $54k cash fee and 20,000 warrants (exercise $1.46, 2.5yr).