Phunware announces issuance of senior convertible notes

• Phunware (NASDAQ:PHUN -11.5%) to receive gross proceeds of $2.76M or net proceeds of $2.564M on the issuance of senior convertible notes of the principal amount of $3M, maturity date being December 31, 2021.
• Notes can be paid either in cash or by selling securities, while holders can convert at $3/share or higher subject to adjustments.
• Press Release