Phunware, Inc. (NASDAQ:PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, has executed a definitive agreement to acquire Lyte Technology (“Lyte”). The accretive transaction contemplates up to a $10.32M total purchase price in cash and stock, with $3.32M cash at closing and the remaining $7.00M subject to both time and financial performance requirements for the one year period post-closing. The maximum amount of stock issuable post closing would constitute $2.25M over 12 months and an additional $1.25M contingent upon generating $12.00M for the one-year period post closing. The Company maintains options against future payments in order to proactively minimize dilution while maximizing financial performance.
Earthstone Energy Acquires Working Interests in Assets in Gonzales County, Texas for $48M Cash
Asset highlights:
Recent net production of ~1,150 (1) Boepd (~89% oil)
$67 million PDP PV-10 as of 4/1/21 with associated reserves of approximately 3.4 MMBoe (2)
Low-cost, high
