Smith Micro Software (SMSI) has provided an announcement.
On May 10, 2024, Smith Micro Software, Inc. announced a securities purchase agreement with select investors for the direct sale of over 1 million shares and pre-funded warrants, in addition to a private placement of warrants for nearly 2 million shares. The transactions, which closed on May 14, are expected to raise $4.1 million for the company, earmarked for working capital and general corporate purposes. The company has also committed to certain restrictions on stock and warrant activities post-closing and agreed to pay the placement agent a fee plus warrants for their services.
For a thorough assessment of SMSI stock, go to TipRanks’ Stock Analysis page.
