PHUN - Phunware Stock Is Tanking Wednesday: What's Going On? | Benzinga
Phunware Inc (NASDAQ:PHUN) shares are tumbling Wednesday after the company announced a $7 million registered direct offering.
What Happened: After the market close on Tuesday, Phunware said it entered into a definitive agreement for the issuance and sale of approximately 87.5 million shares of common stock at 8 cents per share.
The direct offering was priced at-the-market under Nasdaq rules. All of the shares in the offering are being ...