Phunware announces $120M ‘at-the-market’ equity offering program

Phunware announced that it has filed a prospectus supplement to its existing shelf registration statement on Form S-3 with the SEC, under which it may offer and sell shares of its common stock having an aggregate offering price of up to $120M from time to time through an “at-the-market” equity offering program. No additional capacity is being added to the Registration Statement as a result of the ATM program. Phunware has entered into an Equity Distribution Agreement relating to the offer and sale of shares of its common stock through Canaccord Genuity, as representative of the several sales agents including Canaccord Genuity, Roth Capital Partners, and The Benchmark Company.