Smith Micro Software Inc. has announced a follow-on offering involving the issuance of 1,612,903 registered shares of common stock, accompanied by unregistered warrants. These shares are priced at $0.93 each, while the warrants allow the purchase of an additional 1,612,903 shares at an exercise price of $1.20 per share. The warrants will be immediately exercisable and will expire five years after issuance. The offering is expected to generate gross proceeds of approximately $1.5 million, which the company plans to use for working capital and general corporate purposes. Chardan acted as the financial advisor, and legal counsel was provided by Buchanan Ingersoll & Rooney PC for the company and Haynes and Boone, LLP for the investors.
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