Smith Micro Software ( (SMSI) ) has released an update.
Smith Micro Software, Inc. announced two simultaneous financing agreements totaling $6.9 million, consisting of a registered direct offering and a private placement to institutional investors and the CEO. The company sold more than 3.3 million registered shares for $1.165 each, in addition to unregistered warrants exercisable at $1.04 per share, and the CEO invested $3.0 million in unregistered shares and warrants on the same terms . Proceeds will be used 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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