Smith Micro Software ( (SMSI) ) has issued an update.
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Smith Micro Software, Inc. announced two concurrent financing deals totaling $6.9 million, comprising a registered direct offering and a private placement with institutional investors and its CEO. The company sold over 3.3 million registered shares at $1.165 each, alongside unregistered warrants exercisable at $1.04 per share, and the CEO invested $3.0 million in unregistered shares and warrants under the same terms. The proceeds are earmarked for working capital and general corporate purposes, with the transactions expected to close on October 2, 2024, subject to standard closing conditions.
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