Phunware nasdaq Phun Shares Soar Amidst Board Shake up

Phunware (NASDAQ: PHUN) Shares Soar Amidst Board Shake-Up

Phunware (NASDAQ: PHUN) stock surged almost 6% on Friday following the appointment of industry veteran Elliot Han to its Board of Directors.

Phunware (PHUN) notified the induction of Elliot Han into its Board of Directors on January 21, 2024.

Elliot Han brings a comprehensive portfolio of experience to Phunware. He presently holds the position of Partner at PGP Capital Advisors, a specialized investment and merchant bank where he primarily focuses on mergers and acquisitions and corporate finance, spanning the domestic and international arena.

The expertise of Han covers numerous fields, including corporate finance, strategy and development, corporate law, start-up operations, investments, and digital asset finance. His past roles include leading FinTech/Blockchain, Crypto & Digital Assets Investment Banking, and Technology Equity Capital Markets at Cantor Fitzgerald. He also served as the Head of FinTech and Consumer Tech Capital Markets at the New York Stock Exchange. Han earned his B.A. from Columbia University, a Master’s degree from Oxford University, and law & M.A. degrees from Cambridge University.

Phunware CEO Mike Snavely expressed his pleasure at welcoming Elliot Han to the company’s Board of Directors. He praised Han as a proactive individual with innovative ideas to enhance the value of their digital asset ecosystem, including PhunCoin and PhunToken.

Snavely stated,

“He’s a roll-up-his-sleeves and get-to-work kind of guy.”

According to Snavely, the expertise of Han in cryptocurrency will be a valuable addition to the Phunware team as they strive to broaden and improve their offerings.

Han said,

“I’m delighted to join the Board of Directors of Phunware. The company’s unprecedented potential in digital assets, along with my interest in this key area, drew me to Phunware, and I look forward to working closely with the management team to support the creation of a truly novel kind of business that drives innovation and growth.”

Phunware (NASDAQ: PHUN) Stock Reaction

PHUN stock climbed 5.86% on Friday. The traders had exchanged hands with 221,792,359 (221.79 million) shares compared to the average daily trading volume of 87.65 million.