PHUN - Phunware shares down on announcing equity raise

Phunware (PHUN) shares down 8.9% premarket on launching equity offering.The company expects to grant the underwriters a 30-day option to purchase additional shares.Actual size or terms of the offering is yet to be determined. Proceeds will be used to redeem outstanding convertible debt and for working capital and general corporate purposes.

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Phunware shares down on announcing equity raise