Phunware Enters Amended And Restated Equity Distribution Agreement; May Offer & Sell Shares For Aggregate Gross Proceeds Up To $171.5M From Time To Time
Portfolio Pulse from Benzinga Newsdesk
Phunware has entered into an amended and restated equity distribution agreement, allowing it to offer and sell shares for aggregate gross proceeds of up to $171.5 million, as per an SEC filing.
November 01, 2024 | 10:49 pm
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Phunware has amended its equity distribution agreement, allowing it to sell shares for up to $171.5 million. This could lead to stock price volatility as the market reacts to potential dilution and capital raising.
The ability to sell shares up to $171.5 million could lead to stock dilution, which typically pressures stock prices downward. Investors may react negatively to the potential increase in share supply.
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