Sign in Subscribe
Stock offerings

Smith Micro Software Closes Registered Offering and Private Placement, Raising $1.5 Million in Gross Proceeds

Strategic Insights

— 1 min read

Smith Micro Software, Inc. has announced the closing of its registered offering and concurrent private placement, resulting in the issuance of 1,612,903 registered shares of common stock and unregistered warrants to purchase up to an aggregate of 1,612,903 shares of common stock. The offering and private placement were conducted with certain institutional and accredited investors, generating gross proceeds of approximately $1.5 million prior to fees and offering expenses. The Company intends to use the proceeds for working capital and general corporate purposes.

Key Takeaways:

  • Smith Micro Software, Inc. (SMSI) issued 1,612,903 registered shares of common stock at $0.93 per share, generating gross proceeds of approximately $1.5 million prior to fees and offering expenses.
  • The Company also issued unregistered warrants to purchase up to an aggregate of 1,612,903 shares of common stock at an exercise price of $1.20 per share, exercisable immediately and expiring five years after issuance.
  • Chardan served as financial advisor to Smith Micro Software, Inc. in connection with the registered offering and concurrent private placement.
  • Buchanan Ingersoll & Rooney PC and Haynes and Boone, LLP served as legal counsel to the Company and the investors, respectively.
  • A shelf registration statement on Form S-3 was filed with the Securities and Exchange Commission (SEC) and declared effective on May 16, 2025.
  • The prospectus supplement and accompanying base prospectus were filed with the SEC and are available for free on the SEC's website.

Statistics:

  • 1,612,903 registered shares of common stock were issued at $0.93 per share.
  • The gross proceeds from the registered offering and private placement were approximately $1.5 million prior to fees and offering expenses.
  • The unregistered warrants entitle the holders to purchase up to an aggregate of 1,612,903 shares of common stock at an exercise price of $1.20 per share.
  • The warrants were issued in a private placement and are immediately exercisable, expiring five years after issuance.

Sources:

  • Smith Micro Software, Inc. (press release)
  • Securities and Exchange Commission (SEC) (Form S-3, File No. 333-287029)
  • SEC's website (http://www.sec.gov)
  • Chardan (financial advisor)
  • Buchanan Ingersoll & Rooney PC (legal counsel to the Company)
  • Haynes and Boone, LLP (legal counsel to the investors)

Read more