Phun utility tokens to support international expansion of MaaS blockchain platform offerings
Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it has partnered with Wave Financial Group for its anticipated Initial Exchange Offerings (IEOs) and subsequent exchange listings of its Phun utility token.
Phunware offers a dual token economy within its Multiscreen-as-a-Service (MaaS) platform, in which one digital asset, PhunCoin, is a compliant security token that enables consumers to monetize their digital identity, while the other digital asset, Phun, is a utility token that enables consumers to monetize their digital activity when engaging in profitable behavior with brands. These two tokens underpin the Company’s recently launched blockchain-enabled data exchange and mobile loyalty ecosystem.
“Wave Financial has been part of the Phunware journey since our first seed round investment in 2009,” said David Siemer, CEO of Wave Financial. “We have participated in most of the Company’s private financing rounds, including its PhunCoin offering, and are extremely excited about its successful Nasdaq listingat the end of last year. Phunware is one of our largest holdings across several fund vehicles and we are now actively assisting the Company with anticipated IEOs and accompanying exchange listings for Phun, internationally.”
Wave Financial has extensive experience with cryptocurrency and blockchain initiatives, including access to important companies, organizations, individuals and teams that will be critical to the successful rollout and scaling of the Company’s new platform offerings with blockchain. Given the current regulatory environment, PhunCoin is only available to accredited investors excluding New York residents pursuant to a Reg D 506(c) exemption, while Phun is currently only available to residents outside of the United States and Canada. Residents outside the United States and Canada can purchase Phun at https://buy.phuntoken.com/. For more information, visit https://www.phuntoken.com/ or email firstname.lastname@example.org.
Under Rule 506(c), general solicitation of offerings is permitted. However, purchasers in a Rule 506(c) offering must be “accredited investors.” This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities nor shall there be any offer, sale, or solicitation of the securities referenced herein in any state or other jurisdiction in which such an offer, sale, or solicitation is not permitted. Any offers of the securities will be made only by means of a private offering memorandum.
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Wave Financial Group is a holding company providing investment and asset management focused on the rapidly growing digital asset and blockchain ecosystem. Led by veteran investors in the venture capital, commodity and alternative asset fields, the Wave group of companies offers accredited and institutional investors a bridge between traditional asset management and the future of finance.
The Wave group of companies offer strategic products and services structured to provide liquidity and access to established cryptocurrencies, as well as rapidly growing projects. Its innovative Wave Select 20 Index, which tracks the performance of nearly the entire cryptocurrency market (excluding privacy tokens and stablecoins), is weighted by market capitalization and underpins funds available to accredited and international investors.
Wave Financial LLC is a Registered Investment Advisor (CRD#292343) and also provides treasury management services and consultation to investors and businesses in the digital asset ecosystem.
About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN) PHUN, is the pioneer of Multiscreen-as-a-Service (MaaS), a fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://www.phunware.com, https://www.phuncoin.com and follow @phunware and @phuncoin on all social media platforms.