Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 40

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 40
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 the Reverse Stock Splits, at a public offering price of $13.50 per share, as adjusted for the Reverse Stock Splits. In
connection with the Offering, the Company entered into a securities purchase agreement with certain investor signatories thereto for
the purchase of shares of common stock described above.

Roth
served as the exclusive placement agent in connection with the Offering. The Company paid Roth a cash fee of 7.0% of the aggregate gross
proceeds raised at the closing of the Offering, and reimbursement of certain expenses and legal fees in the amount of $0.1 million. The
Company also issued to designees of Roth warrants to purchase up to an aggregate of 11,604 shares of common stock, as adjusted for the
Reverse Stock Splits (the “Placement Agent Warrants”). The Placement Agent Warrants have an exercise price of $13.50 per
share, as adjusted for the Reverse Stock Splits, are not exercisable until January 2, 2026, and expire on July 2, 2030.

The
net proceeds of the Offering are approximately $4.8 million, after deducting the Placement Agent fees and expenses and other estimated
offering expenses payable by the Company. The Company used the net proceeds of the Offering for overall business strategy, for working
capital purposes and for general corporate purposes.

Receivables
Financing Agreements

To
improve its liquidity, on September 23, 2024, the Company entered into an invoice purchase agreement with LS DE LLC (“LS”),
pursuant to which LS will provide receivables factoring to the Company, pursuant to which LS will advance 80% of the face value of the
receivables being sold by the Company, up to a maximum of $2.5 million of eligible customer invoices from the Company. As of September
30, 2025, this agreement is terminated.

To
improve its liquidity, on August 7, 2025, the Company entered into a factoring agreement (the “Receivables Financing Agreement”)
with Tradewind GmbH (“Tradewind”), pursuant to which Tradewind will provide international receivables factoring to the Company,
pursuant to which Tradewind will advance 85% of the face value of the receivables being sold by the Company, up to a maximum of €3.0
million of eligible customer invoices from the Company. For additional information,