Summary by Moomoo AI
Phunware, a fully integrated enterprise cloud platform for mobile, has announced the offering of 54,800,000 shares of common stock at $0.10 per share, alongside pre-funded warrants to purchase an additional 1,200,000 shares. The pre-funded warrants, in lieu of common stock, are offered to purchasers whose acquisition could result in beneficial ownership exceeding 4.99% or 9.99% of outstanding shares post-transaction. Each pre-funded warrant's purchase price equals the public share price minus $0.001, with an exercise price of $0.001 per share. The offering also includes shares issuable upon exercise of the pre-funded warrants. Phunware's common stock is listed on the Nasdaq Capital Market under the symbol 'PHUN', with a reported sales price of $0.2421 per share as of January 18, 2024. The offering is expected...Show More