Phunware, Inc. Enters Material Definitive Agreement
Ticker: PHUN · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1665300
| Field | Detail |
|---|---|
| Company | Phunware, Inc. (PHUN) |
| Form Type | 8-K |
| Filed Date | Mar 14, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $2,193,852.02 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, filing
TL;DR
Phunware signed a big deal, details TBD.
AI Summary
On March 5, 2024, Phunware, Inc. entered into a Material Definitive Agreement. The filing does not disclose specific details of this agreement, such as the counterparty or financial terms, but it is categorized under 'Entry into a Material Definitive Agreement' and 'Financial Statements and Exhibits'.
Why It Matters
This filing indicates a significant new agreement for Phunware, Inc., which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- Phunware, Inc. (company) — Registrant
- Stellar Acquisition III Inc. (company) — Former company name
- March 5, 2024 (date) — Date of earliest event reported
- March 14, 2024 (date) — Filing date
FAQ
What is the nature of the Material Definitive Agreement entered into by Phunware, Inc. on March 5, 2024?
The filing does not specify the nature of the Material Definitive Agreement, only that one was entered into.
Who is the counterparty to the Material Definitive Agreement?
The filing does not disclose the name of the counterparty to the Material Definitive Agreement.
Are there any financial terms associated with this Material Definitive Agreement disclosed in the filing?
No specific financial terms or dollar amounts related to the Material Definitive Agreement are disclosed in this filing.
What is the significance of the 'Financial Statements and Exhibits' item in this filing?
This indicates that financial statements and exhibits are being filed along with the report, which may provide further context or details about the company's financial status or the agreement.
When was Phunware, Inc. formerly known as Stellar Acquisition III Inc.?
Phunware, Inc. was formerly known as Stellar Acquisition III Inc. as of January 28, 2016.
Filing Stats: 662 words · 3 min read · ~2 pages · Grade level 11.9 · Accepted 2024-03-14 16:59:14
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share PHUN The NASDAQ Capital Marke
- $2,193,852.02 — required to (i) pay WSGR a total sum of $2,193,852.02 no later than March 8, 2024, (ii) file
Filing Documents
- phun-20240305.htm (8-K) — 31KB
- phunware-wsgrsettlementa.htm (EX-10.1) — 13KB
- phunware-wsgrsettlementa001.jpg (GRAPHIC) — 224KB
- phunware-wsgrsettlementa002.jpg (GRAPHIC) — 282KB
- phunware-wsgrsettlementa003.jpg (GRAPHIC) — 263KB
- phunware-wsgrsettlementa004.jpg (GRAPHIC) — 126KB
- 0001628280-24-011256.txt ( ) — 1436KB
- phun-20240305.xsd (EX-101.SCH) — 2KB
- phun-20240305_def.xml (EX-101.DEF) — 15KB
- phun-20240305_lab.xml (EX-101.LAB) — 26KB
- phun-20240305_pre.xml (EX-101.PRE) — 16KB
- phun-20240305_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. As previously reported, on March 30, 2021, Phunware, Inc. (the "Company") filed an action against its former counsel Wilson Sonsini Goodrich & Rosati, PC ("WSGR"), which was styled Phunware, Inc., v. Wilson Sonsini Goodrich & Rosati, Professional Corporation, Does 1-25, Case No. 21CV381517 and filed in the Superior Court of the State of California for the County of Santa Clara (the "Uber Litigation"). The Company's claims asserted in the Uber Litigation were subsequently ordered to arbitration (the "Uber Arbitration"). In the Uber Arbitration, WSGR sought to recover attorney's fees and costs for services rendered to the Company in connection with a separate litigation matter against Uber Technologies, Inc. On March 5, 2024, the Company entered into a Settlement Agreement and Release of Claims (the "Settlement Agreement") with WSGR settling the Uber Litigation. As part of the Settlement Agreement, the Company was required to (i) pay WSGR a total sum of $2,193,852.02 no later than March 8, 2024, (ii) file requests for dismissal of the Uber Litigation, with prejudice, with the Santa Clara Superior Court, and (iii) request that the Uber Arbitration be dismissed and closed with prejudice. In addition, WSGR is required to request that the Uber Arbitration be dismissed and closed with prejudice. The Settlement Agreement also provides that the Company and WSGR release each other from all claims that the Company or WSGR may have against one another with respect to the Uber Litigation or the Uber Arbitration. The full text of the Settlement Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference. 1
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Exhibit Title 10.1 Settlement Agreement and Release of Claims dated March 5, 2024, by and between Phunware, Inc. and Wilson Sonsini Goodrich & Rosati, Professional Corporation 104 Cover Page Interactive Data File (embedded within the inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 14, 2024 Phunware, Inc. By: /s/ Troy Reisner Troy Reisner Chief Financial Officer