Smith Micro Software (NASDAQ: SMSI), a software development company that sells proven solutions to wireless carriers and cable MSOs, has closed on its follow-on underwritten public offering. The offering was comprised of 9,520,787 shares of SMSI common stock. The company announced that the offering resulted in an estimated $65.2 million gross proceeds for the company before discounts, commissions and other required expenses. In the announcement, the company noted that it granted a 30-day option to purchase additional shares to underwriters of the offering; that option allows for the purchase of an additional 1,428,118 shares of the company’s common stock. Smith Micro anticipates using the proceeds from the follow-on offering for general corporate purposes as well as to fund the planned acquisition of Avast plc’s Family Safety Mobile Software Business. Roth Capital Partners (“ROTH”) acted as joint book-running manager for the offering.
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About Smith Micro Software Inc.
Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers and cable MSOs around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, the company’s solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. For more information about the company, visit
www.SmithMicro.com.
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