Phunware Updates Announcement of “At-the-Market” Equity Offering Program

Core Viewpoint - Phunware, Inc. has filed a prospectus supplement to its existing shelf registration statement, allowing it to offer and sell shares of its common stock with an aggregate offering price of up to $120 million through an "at-the-market" equity offering program [1][4]. Group 1: Offering Details - The company has entered into an Equity Distribution Agreement with Canaccord Genuity LLC and other sales agents for the sale of its common stock [2]. - Shares may be sold at market prices, related prices, or negotiated prices, with the number of shares sold depending on market conditions and the company's capital needs [3]. - The prospectus supplement updates information in the existing prospectus and provides details about the ATM program [4]. Group 2: Amendments and Agreements - An amendment to the Securities Purchase Agreement was made effective June 3, 2024, which states that participation rights for subsequent financings do not apply to issuances under the Equity Distribution Agreement with Canaccord Genuity [5]. Group 3: Company Overview - Phunware aims to enhance connectivity and monetization through the adoption of its technologies, focusing on expanding its software products and services audience [7].