Smith Micro Software, Inc. (NASDAQ:SMSI) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On December6, 2016, Smith Micro Software, Inc. (the
Company) entered into a short-term secured
borrowing arrangement with William W. and Dieva L. Smith
(Smith), to which Smith loaned to the Company
$1,000,000 and the Company issued to Smith a Secured Promissory
Note (the Note) bearing interest at the rate of
18%per annum. The Note is due on December14, 2016 and is secured
by the Companys accounts receivable and certain other assets. The
foregoing description of the Note is qualified by reference to
the complete text of the Note which is filed as an exhibit to
this Current Report on Form 8-K.
Item9.01Financial Statement and Exhibits.
(d)Exhibits.
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| 10.1 | Secured Promissory Note December6, 2016 |
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About Smith Micro Software, Inc. (NASDAQ:SMSI)
Smith Micro Software, Inc. is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks. Graphics segment includes its consumer-based products, such as Poser, Anime Studio, Manga Studio, MotionArtist and StuffIt. The Graphics segment develops a range of software, including graphic design and animation, compression and personal computer (PC)/Mac utilities, for consumers, professional artists and educators. The Company also offers Family Safety platform for family locator and parental controls. Smith Micro Software, Inc. (NASDAQ:SMSI) Recent Trading Information
Smith Micro Software, Inc. (NASDAQ:SMSI) closed its last trading session down -0.12 at 1.65 with 134,161 shares trading hands.