Smith Micro Software, Inc. (NASDAQ: SMSI) has announced the company has repaid certain short and long term debt obligations, significantly strengthening the balance sheet as the company enters 2019, the company said.
The amount of debt obligations that were repaid totaled USD 3.2 million.
Smith Micro announced on November 7, 2018 that it had completed a private placement transaction with certain investors, and the proceeds from this transaction were used to repay certain debt obligations while also allowing maximum flexibility to execute on other strategic initiatives.
Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the wireless service providers and Cable MSOs around the world. For more information, visit www.smithmicro.com.