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     166  0 Kommentare Phunware Refinances Senior Convertible Note

    Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it has entered into a refinancing transaction on terms more favorable to the Company for the issuance of senior convertible notes of the Company in the initial principal amount of $4.32 million (the “Notes”) with a maturity date of December 31, 2021, pursuant to a Securities Purchase Agreement by and among the Company and the same institutional investor (the “Buyer”). Canaccord Genuity, LLC acted as sole placement agent (the “Placement Agent”) in the transaction. Upon closing of the sale of the Note (the “Closing”), the Company is expected to receive gross cash proceeds of $1.75 million after paying off the note issued to the Buyer on March 20, 2020, as well as applicable Placement Agent and legal fees in connection with the transaction. The obligations of the Notes are to be repaid by the Company in cash only, but at the Buyer’s election, may be converted at a fixed price of $3 per share subject to certain adjustments. As additional consideration, the Company also issued the Buyer a warrant for the purchase of common stock representing 30% coverage of the principal amount of the Notes that are exercisable in cash for $4 per share.

    The securities sold in the financing transaction have not been registered under the Securities Act of 1933, as amended, or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to file a registration statement with the United States Securities and Exchange Commission registering the resale of the shares of common stock issuable upon conversion of the Notes sold in the financing transaction. Any offering of the securities under the resale registration statement will only be made by means of a prospectus.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    For additional information on this financing transaction, see the associated Form 8-K which will be available in the Company’s public filings which can be found here.

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    Phunware Refinances Senior Convertible Note Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it has entered into a refinancing transaction on …