Phunware stock slips after CFO to step down

seekingalpha
05 Nov 2024
  • Phunware's (NASDAQ:PHUN) Troy Reisner has announced the intention to step down as the chief financial officer, between November 15, 2024 and November 30, 2024.
  • The company’s interim chief executive officer, Stephen Chen, will assume the duties as principal financial officer and principal accounting officer.
  • The company has initiated a search for potential candidates to replace Reisner.
  • Phunware also signed a term sheet, in conjunction with other parties, to acquire a controlling interest in MyCanvass for a mix of cash and Phunware stock at ~$1.02M.
  • MyCanvass is a technology company focused on providing voter and advocacy engagement tools, including mobile apps.
  • Shares of Phunware declined 8% on Monday.
  • Source: Press Release

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