Recent Updates — SMSI

Smith Micro Software, Inc. announced that founder William W. Smith, Jr., age 78, has been appointed President and Chief Executive Officer effective September 18, 2026. He succeeds Timothy C. Huffmyer, who resigned immediately to pursue other opportunities but will remain on the Board of Directors. Mr. Smith previously led the company from its 1982 inception until March 2026, when he transitioned to Executive Chairman. The filing details prior financing transactions with a trust for which Mr. Smith serves as co-trustee, including $833,000 in September 2025, approximately $1.5 million in November 2025, and approximately $4.6 million in March 2026, all of which were subsequently repaid. No changes to Mr. Smith's compensation were made upon his return as CEO. Smith Micro Software develops software solutions for wireless service providers to enhance mobile experiences.

Smith Micro Software, Inc. received notification from Nasdaq that its common stock has regained compliance with the $1.00 minimum bid price requirement after maintaining a closing price of at least $1.00 per share for the last 10 consecutive business days between June 8, 2026, and June 22, 2026. Smith Micro Software, Inc. is a software company that provides solutions for mobile and IoT connectivity and mobile device management.

Smith Micro Software, Inc. entered into inducement letter agreements on June 11, 2026, with holders of existing common warrants to purchase 487,349 shares. Under the terms, holders will exercise their warrants at a reduced price of $3.35 per share, down from the original $5.20. In exchange, the company will issue new warrants to purchase 487,349 shares at an exercise price of $3.80 per share with a five-year term. The transaction is expected to generate approximately $1.6 million in gross proceeds for working capital and general corporate purposes. The closing is anticipated around June 15, 2026. Smith Micro Software, Inc. is a software company providing mobile and connectivity solutions.