By Sheri Kasprzak
Atlanta, Feb. 18 - Smith Micro Software Inc. said it has wrapped a $22.4 million private placement of stock.
The company sold 3.5 million shares at $6.40 each.
C.E. Unterberg, Towbin LLC was the placement agent in the offering.
Based in Aliso Viejo, Calif., Smith Micro develops and markets wireless communication, broadband, eCommerce and utility software products. The company plans to use the proceeds from the private placement for the expansion of its product and customer base and for potential acquisitions.
| Issuer: | Smith Micro Software Inc.
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| Issue: | Stock
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| Amount: | $22.4 million
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| Shares: | 3.5 million
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| Price: | $6.40
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| Warrants: | No
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| Placement agent: | C.E. Unterberg, Towbin LLC
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| Settlement date: | Feb. 18
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| Stock price: | $7.48 at close Feb. 17
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