Smith Micro Software (SMSI) Announces Proposed $62M Share Follow-On Offering

March 8, 2021 4:22 PM EST

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Smith Micro Software Inc. (NASDAQ: SMSI), a software development company that sells proven solutions to wireless carriers and Cable MSOs, today announced the launch of a $62 million underwritten public offering of the Company’s common stock pursuant to a registration statement filed with the Securities and Exchange Commission (“SEC”). In addition, Smith Micro expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of its shares of the Company’s common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments.

Smith Micro intends to use the net proceeds from this offering to fund the purchase price payable to Avast plc (“Avast”) pursuant to the Company’s planned acquisition of Avast’s Family Safety Mobile Software Business and for general corporate purposes.

B. Riley Securities and Roth Capital Partners are acting as joint book-running managers for the offering, with Lakestreet Capital Markets and The Benchmark Company acting as Co-Managers. SEG Group, a division of Bradley Woods & Company, is acting as a Financial Advisor.

A shelf registration statement on Form S-3, File No. 333-238053, relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (“SEC”) and declared effective on May 13, 2020. A preliminary prospectus supplement describing the terms of the offering and the accompanying base prospectus have been filed with the SEC and are available for free on the SEC’s website located at www.sec.gov.

The offering of these securities may be made only by means of a prospectus.



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