Summary by Moomoo AI
Phunware, a fully integrated software platform provider, has undergone significant business developments and financial activities in 2024. The company terminated a common stock purchase agreement with Lincoln Park, effective October 25, 2024, after not selling any shares during the nine months ended September 30, 2024. Phunware also completed a series of offerings in the first quarter of 2024, selling 2,696,000 shares of common stock and issuing pre-funded warrants for 974,000 shares, resulting in aggregate gross proceeds of $22,600 with transaction costs of approximately $1,880. All pre-funded warrants were exercised. Additionally, Phunware's board authorized a stock repurchase program for up to $5 million, with repurchases made at market prices. In 2023, the company repurchased 10,130 shares for $502. Key executive changes include the resignation of CEO Michael Snavely and the appointment of...Show More