Phunware Inc (NASDAQ:PHUN) has announced the launch of a public offering of its common stock.
In a statement, the company said the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering will be completed, or the actual size or terms of the offering.
It intends to use the net proceeds for working capital and other general corporate purposes, including expansion of its product initiatives, such as monetizing its patent portfolio, PhunCoin and PhunToken.
Roth Capital Partners is acting as sole placement agent for the offering.