Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 318

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 318
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. However, certain Trigger Events, such as bankruptcy or insolvency, automatically result in an Event of Default, making the outstanding balance immediately payable at the Mandatory Default Amount without notice.

| F-15 |

Security Agreements

The Company’s obligations under the July Note are secured by all of the Company’s assets, including its intellectual property, pursuant to a security agreement and intellectual property security agreement entered into by the Company in favor of the Lender on July 11, 2025. Pursuant to these agreements, the Company granted to the Lender a first-position security interest in all right, title, interest, claims and demands of the Company in and to certain property including, but not limited to: all equity in all wholly-owned or partially owned subsidiaries, all goods and equipment and all inventory, and certain patents, trademarks, and other intellectual property, as more fully detailed therein.

The following table presents the components of the net carrying amount of the Notes as of September 30, 2025:

Schedule of Components of Net Carrying Amount

| Principal                                               |     | $ | 5,680 |   |
| Less: unamortized debt discount and debt issuance costs |     |   |  (613 | ) |
| Long term debt                                          |     | $ | 5,067 |   |
| Current portion                                         |     | $ | 4,817 |   |
| Long-term portion                                       |     | $ |   250 |   |

The effective interest rate on the February Note and July Note was approximately 27.8% and 22.7%, respectively, for the period from the date of issuance through September 30, 2025. The following table sets forth total interest expense recognized related to the Notes:

Schedule of Interest Expense

|                                     |     |   |             Three Months 
 Ended September 30, 2025 |     |   |              Nine Months 
 Ended September 30, 2025 |
|:------------------------------------|:----|:--|-------------------------:|:----|:--|-------------------------:|
| Contractual interest expense        |     | $ |                      133 |     | $ |                      239 |
| Amortization of debt discount       |     |   |                      108 |     |   |                      172 |
| Amortization of debt issuance costs |     |   |                       98 |     |   |                      160 |
| Interest expense                    |     | $ |                      339 |     | $