TRADING QUOTES 11:59 AM September 24, 2018
CLICK ON A TAB BELOW:
(Business Combination or IPO Details) to access the relevant details. Additional info below.
Business Combination
| Source: SEC.gov as of August 06, 2018 | |
|---|---|
| (ESTIMATED) CURRENT FUNDS in TRUST: | $37.2 million |
| PRO RATA AMOUNT IN TRUST (post-amendment 5/24): | $10.48 per share |
| PHUNWARE ENTERPRISE VALUE: | $301 million |
| RECORD DATE: | TBD |
| SHAREHOLDER VOTE: | TBD |
IPO Terms
IPO Terms/Details
| Total Public Proceeds at IPO ($mm): | $69.0 |
| % Held in Trust: | 102.0% or $70.4mm |
| $ Held in Trust per Unit: | $10.20 |
| Mgmt's Sector Expertise/Focus: | International energy logistics |
| IPO Date: | Aug. 18, 2016 |
| Months to Complete: | 12 |
| Completion Deadline (Extended): | Aug. 24, 2018 |
| Unit Structure (STLRU) | |
| Share (STLR): | 1 Share of Common Stock |
| Warrant (STLRW): | 1 Warrant |
| Public Warrant Terms: | |
| Exercise Price: | $11.50 |
| Redemption Price: | $18.00 |
| Cash or Cashless Redemption: | Mgmt's Discretion |
| Underwriters: | |
| Book-runner(s) and Lead Mgr(s): | Maxim Group LLC, Chardan, EarlyBirdCapital, Inc. |
| Co-Manager(s): | NA |
| Fees (Upfront/Deferred): | 2.0% / 2.5% |
| Lawyers: | |
| Issuer's Counsel: | Ellenoff Grossman & Schole LLP |
| Underwriter's Counsel: | Loeb & Loeb LLP |
Investor Presentation Merger Agreement Stellar Website Phunware Website Definitive Proxy 8/6
PROPOSED BUSINESS COMBINATION
ESTIMATED CURRENT FUNDS in TRUST: $36.9 million (as of May 29, 2018)
CURRENT PER SHARE REDEMPTION PRICE: $10.41
ENTERPRISE VALUE: $301 Million
Stellar Acquisition III Inc. proposes to combine with Phunware, Inc. (“Phunware”). Phunware is the pioneer of Multiscreen as a Service (MaaS), a fully integrated suite of platform products, solutions and data that allows brands to engage, manage and monetize their anytime, anywhere mobile application users worldwide. Phunware creates category-defining mobile experiences for the world’s most respected brands, with petabytes of data across thousands of mobile application portfolios. The transaction with Phunware enables Stellar to enter two of the most innovative and rapidly growing sectors within the technology space: mobile cloud software and blockchain.
Highlights
- Enterprise mobile software including content management, location-based services, marketing automation, business intelligence and analytics, alerts, notifications and messaging, audience engagement, audience monetization, vertical solutions and cryptonetworking, as well as an Application Framework for developers and publishers building their own mobile applications in-house
- Media for mobile audience building and activation, application discovery, brand awareness, user engagement, user monetization and more
- Data for audience insights, campaign engagement and business process optimization
- Phunware will use commercially reasonable efforts to launch PhunCoin, a blockchain-powered utility token and ecosystem that enables consumers, brands and application developers to transact directly and create a value-based and voluntary data exchange
**Maxim Group LLC and Graceworth Ltd. are acting as financial advisors to Stellar in connection with the proposed transaction. BTIG LLC is acting as financial advisor to Phunware in connection with the proposed transaction.