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04.03.26 - 22:06
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Smith Micro Announces Investment Led by CEO and Founder, Bill Smith (Business Wire)
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Anticipated Gross Proceeds of Financing Total $4.9 MillionPITTSBURGH--(BUSINESS WIRE)--Smith Micro Software, Inc. (the “Company” or “Smith Micro”) (NASDAQ: SMSI) today announced that it has entered into a securities purchase agreement for the sale of securities to accredited investors pursuant to an unregistered offering, the gross proceeds of which are expected to be approximately $4.9 million, which includes committed investments of approximately $4.6 million from a trust for which Bill Smith, the Company's chief executive officer and founder, serves as co-trustee, and approximately $90 thousand from Tim Huffmyer, the Company's chief operating officer and chief financial officer.
The agreement provides for the issuance of secured convertible notes with an aggregate original principal amount of approximately $4.9 million and an initial conversion price of $0.68 per share, subject to adjustment, and warrants to acquire up to an aggregate amount of approximately 9.4 million additional shares of t...
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04.03.26 - 22:06
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Smith Micro Announces Tim Huffmyer to Succeed Bill Smith as President and CEO (Business Wire)
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PITTSBURGH--(BUSINESS WIRE)--Smith Micro Software, Inc. (Nasdaq: SMSI) today announced that it has named current Chief Operating Officer and Chief Financial Officer Tim Huffmyer to serve as Smith Micro's next President and Chief Executive Officer. Huffmyer will assume the role from Bill Smith, who has been appointed to the role of Executive Chairman. The changes will take effect on March 31, 2026 and follow leadership succession planning led by Smith and the Company's Board of Directors.
“This planned leadership transition reflects the Board's ongoing succession planning and commitment to continuity in leadership and disciplined execution,” said Smith. “With Tim's demonstrated strategic, financial and operational performance, and deep understanding of our business, customer base, and employees, the Board is confident in his ability to lead the Company into its next phase of growth.”
During his tenure as Chief Operating Officer and Chief Financial Officer, Huffmyer has overseen core operational...
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04.03.26 - 22:06
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Smith Micro Reports Fourth Quarter and Fiscal Year 2025 Financial Results (Business Wire)
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PITTSBURGH--(BUSINESS WIRE)--Smith Micro Software, Inc. (Nasdaq: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its fourth quarter and fiscal year ended December 31, 2025.
“Throughout my 44 years at the helm of Smith Micro, we have experienced many different technology cycles, as well as on-going changes in the market, where we have seen firsthand the importance of having the right solutions at the right time,” said William W. Smith, Jr., president, chief executive officer and chairman of the board of Smith Micro. “Together, our team has put Smith Micro on a path to capitalize on the opportunities in front of us and return to profitability. We have substantially reduced our cost structure and optimized our spending, while strategically investing in areas that support innovation. We have strengthened our product lineup with a strategic focus on phones in our SafePath OS™ solutions for kids and seniors and an expanded portfolio that presents new opportunities to ...
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05.11.25 - 22:06
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Smith Micro Founder and CEO Bill Smith to Invest $1.5 Million in Financing (Business Wire)
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Anticipated Proceeds of Two Concurrent Financings Total $2.65 Million
PITTSBURGH--(BUSINESS WIRE)--Smith Micro Software, Inc. (the “Company” or “Smith Micro”) (NASDAQ: SMSI) today announced that it has entered into definitive agreements with respect to two separate offerings; a registered offering with certain institutional and accredited investors, and an unregistered offering with the Company's chief executive officer. Both offerings have been priced based on the market value of the offered securities as of the time of signing the purchase agreements. The aggregate gross proceeds of the two offerings are expected to be approximately $2.65 million, which includes a committed investment of $1.5 million from the Company's chief executive officer.
Registered Offering
The Company and certain investors have entered into a definitive agreement for the issuance of an aggregate of 1,714,373 registered shares of the Company's common stock (together with an accompanying unregistered warrant) at a price ...
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15.10.25 - 22:03
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Smith Micro Announces Strategic Cost Reductions and Leadership Changes (Business Wire)
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Company Expects Annualized Cost Savings of $7.2 MillionPITTSBURGH--(BUSINESS WIRE)--Smith Micro Software, Inc. (Nasdaq: SMSI) today announced that it has implemented strategic organizational changes aimed at enhancing operational efficiencies and reducing costs in line with the Company's priorities and vision for the future. These reorganization efforts, which include a strategic reduction of the Company's workforce, are part of a broader initiative to realign the Company's cost structure with long-term business goals, strengthen its financial foundation, and accelerate the Company's path to profitability.
“We recognize the impact this decision has on our employees and their families, and we appreciate their contributions and long-standing service and dedication to the Company,” said William W. Smith Jr., president chief executive officer and chairman of the board of Smith Micro. “While difficult, this strategic realignment of resources is a meaningful step forward and is necessary for the Compa...
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06.08.25 - 22:06
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Smith Micro Reports Second Quarter 2025 Financial Results (Business Wire)
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Company expects sequential quarterly revenue growth for the second half of 2025PITTSBURGH--(BUSINESS WIRE)--Smith Micro Software, Inc. (Nasdaq: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2025.
“We made significant progress in the second quarter, culminating in the upcoming launch of SafePath® 8 later this month. SafePath 8 will introduce powerful AI-driven features and is already opening many channels for us as we broaden our reach across our carrier partners and prospects. Our vision of the digital family lifestyle is stronger than ever, offering our customers a comprehensive ecosystem of family safety solutions,” said William W. Smith Jr., president, chief executive officer, and chairman of the board of Smith Micro. Mr. Smith added, “Our customer relationships remain strong, and we are excited about the upcoming launch of an additional feature set with a current customer, which we expect will result in sequential quarterly...
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