Phunware Shares Rise 10% After Initial Issuing of PhunCoin Cryptocurrency
November 19 2021 - 10:42AM
Dow Jones News
By Chris Wack
Phunware Inc. shares rose 10% to $3.89 after the company said it
will begin processing initial issuances of PhunCoin.
The company said PhunCoin will be available for trading
exclusively on Securitize, a blockchain-enabled transfer agent
registered with the U.S. Securities and Exchange Commission.
Following initial distributions, Phunware will reserve 72% of
the maximum available supply, which is 100 billion PhunCoin. One
PhunCoin is currently valued at 0.8 cents.
PhunCoin is managed by PhunWallet, which is available on Apple
App Store and Google Play.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 19, 2021 10:27 ET (15:27 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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