Phunware (NASDAQ: PHUN), a fully integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, has closed an underwritten public offering of 11,761,111 shares of common stock. According to the update, Phunware secured approximately $26.5 million in gross proceeds, with each of the shares sold at the public offering price of $2.25. The company intends to use the proceeds to satisfy obligations to redeem outstanding convertible debt and for working capital and general corporate purposes. Roth Capital Partners (“ROTH”) acted as joint book-running manager for the offering.
For more information, visit www.Phunware.com
About Phunware Inc.
Phunware is the pioneer of Multiscreen-as-a-Service (“MaaS”), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (“SDKs”) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit www.Phunware.com.
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