Phunware Prices of Public Offering of Common Stock


AUSTIN, Texas, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced the pricing of its previously announced underwritten public offering of 11,111,111 shares of its common stock at a price to the public of $2.25 per share. In addition, Phunware has granted the underwriters a 30-day option, solely to cover over-allotments, if any, to purchase up to 1,666,666 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on February 17, 2021, subject to customary closing conditions.

Northland Securities Inc. and Roth Capital Partners are acting as joint book-running managers for the offering.

The gross proceeds to the Company from the public offering, before deducting underwriting discounts and offering expenses payable by the Company, are expected to be approximately $25 million, assuming the underwriters’ option is not exercised. Phunware intends to use the net proceeds from the public offering to satisfy obligations to redeem outstanding convertible debt and for working capital and general corporate purposes.

About Phunware, Inc.

Everything You Need to Succeed on Mobile — Transforming Digital Human Experience

Phunware, Inc. (NASDAQ: PHUN), 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,,, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.

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