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Smith Micro Software, Inc. (NASDAQ:SMSI) announced that shareholders approved two proposals at a special meeting held Thursday. According to a statement based on a recent SEC filing, 52% of the company’s outstanding common stock, or 11,159,156 shares out of 21,458,637 eligible, were represented at the meeting.
The first proposal approved by shareholders was the issuance of shares of common stock underlying warrants issued under a Securities Purchase Agreement dated July 17, 2025. This approval, required under Nasdaq listing rule 5635(d), allows Smith Micro to issue shares that, when combined with other shares issued under the agreement, may equal or exceed 20% of the company’s outstanding common stock.
Voting results for this proposal were 10,547,202 shares in favor, 346,095 against, and 265,859 abstaining. There were no broker non-votes.
The second proposal, also approved, authorized the adjournment of the special meeting if necessary to solicit additional proxies in the event there were insufficient votes to approve the first proposal. This adjournment proposal received 10,567,314 votes in favor, 327,028 against, and 264,814 abstaining, with no broker non-votes.
Smith Micro Software is incorporated in Delaware and is headquartered in Pittsburgh, Pennsylvania. The company’s common stock is listed on the NASDAQ exchange under the symbol SMSI.
These results and details were disclosed in a press release statement and accompanying SEC filing.
In other recent news, Smith Micro Software reported its Q2 2025 earnings, showing a 14% decline in revenue compared to the previous year, totaling $4.4 million. Despite this revenue drop, the company emphasized its strategic focus on the SafePath platform, targeting growth in the family and senior safety markets. Additionally, Roth/MKM adjusted its price target for Smith Micro Software, lowering it from $5.50 to $4.00, but maintained a Buy rating on the stock. The firm pointed out that Smith Micro’s results were at the lower end of its guidance range, a trend observed in previous quarters. These developments reflect ongoing adjustments and strategic planning within the company.
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