Phunware Faces Delisting Concerns
Ticker: PHUN · Form: 8-K · Filed: Jan 13, 2025 · CIK: 1665300
| Field | Detail |
|---|---|
| Company | Phunware, Inc. (PHUN) |
| Form Type | 8-K |
| Filed Date | Jan 13, 2025 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, corporate-action
TL;DR
Phunware might get delisted, check the rules.
AI Summary
Phunware, Inc. filed an 8-K on January 13, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The earliest event reported was January 10, 2025. The company was formerly known as Stellar Acquisition III Inc. before a name change on January 28, 2016.
Why It Matters
This filing indicates potential issues with Phunware's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event for a publicly traded company.
Key Players & Entities
- Phunware, Inc. (company) — Registrant
- January 10, 2025 (date) — Earliest event reported
- January 13, 2025 (date) — Filing date
- Stellar Acquisition III Inc. (company) — Former company name
- January 28, 2016 (date) — Date of name change
FAQ
What specific listing rule or standard has Phunware, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Phunware has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the earliest date of the event reported in this 8-K filing?
The earliest event reported in this filing is January 10, 2025.
When was Phunware, Inc. formerly known as?
Phunware, Inc. was formerly known as Stellar Acquisition III Inc.
When did the company change its name from Stellar Acquisition III Inc. to Phunware, Inc.?
The date of the name change was January 28, 2016.
What is the filing date of this 8-K report?
This 8-K report was filed on January 13, 2025.
Filing Stats: 1,033 words · 4 min read · ~3 pages · Grade level 15.4 · Accepted 2025-01-13 16:30:08
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share PHUN The Nasdaq Stock Mar
Filing Documents
- phun-20250110.htm (8-K) — 43KB
- 0000950170-25-004859.txt ( ) — 151KB
- phun-20250110.xsd (EX-101.SCH) — 23KB
- phun-20250110_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 10, 2025, Phunware, Inc. (the "Company") received a written notice from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it was not in compliance with the rules for continued listing as set forth in Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G) because the Company has not held an annual meeting of stockholders within 12 months of year-end for the fiscal year ended as of December 31, 2023. Under Nasdaq rules, the Company has 45 days to submit a plan to Nasdaq to regain compliance, and if Nasdaq accepts the Company's plan, Nasdaq can grant an exception of up to 180 calendar days from the fiscal year end, or until June 30, 2025, to regain compliance. The Company intends to submit a compliance plan within the specified period. While the compliance plan is pending, the Company's securities will continue to trade on Nasdaq. If the Nasdaq does not accept the Company's compliance plan, the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. There can be no assurance the Company will maintain compliance with the above or any other Nasdaq listing rule.
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. Phunware, Inc Date: January 13, 2025 By: /s/ Stephen Chen Stephen Chen Interim Chief Executive Officer