Phunware Announces Pricing of $7.0 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

AUSTIN, Texas, Jan. 16, 2024 (GLOBE NEWSWIRE) — Phunware, Inc. (Nasdaq: PHUN, “Phunware”), the pioneer of patented Location Based SaaS solutions and other products that offer the only fully integrated enterprise cloud platform for mobile that enables brands to engage, manage and monetize anyone anywhere, today announced that it has entered into a definitive agreement for the issuance and sale of approximately 87,500,000 million shares of common stock (or pre-funded warrants in lieu thereof) at a price of $0.08 per share priced at-the-market under Nasdaq rules. All of the shares of common stock (and pre-funded warrants in lieu thereof) have been offered by Phunware pursuant to an effective shelf registration statement on Form S-3 (File No. 333-262461) (the “Registration Statement”).