Smith Micro raises ~$1.5M in registered direct offering plus warrants at $0.93/share

SMITH MICRO SOFTWARE, INC.

Gross proceeds of ~$1.5M from sale of 1,612,903 shares at $0.93/sh and warrants exercisable at $1.20 for 5 years.
Warrants include full-ratchet anti-dilution and adjustment for reverse stock split.
Company must seek stockholder approval for >19.9% share issuance; meeting by Oct 17, 2025.
Proceeds to be used for working capital; offering closed July 18, 2025.
75-day lock-up on further equity issuances and 5-month ban on variable rate transactions.

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