Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 82

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 82
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 | considered a number of factors, including, but not limited to, the        
 risks described in the section titled “Risk Factors” beginning on         
 page 24 of this proxy statement, as well as potentially positive factors. |

Our board considered the following potentially
positive factors, which are not intended to be exhaustive and are not presented in any relative order of importance:

| ● | the consideration from                                        
 the Buyer to the Company upon consummation of the Asset Sale: |

| ○ | the Buyer’s                                                                                   
 broad assumption of current liabilities of the Legacy Business, including vendor and customer 
 obligations for pre-closing periods, subject only to limited, well-defined exceptions;        |

| ○ | the Post-Closing                                                                       
 Cash to be received or retained by the Company upon the closing of the Asset Sale; and |

| ○ | the                                                         
 Buyer will pay up to $5 million in the form of an earn-out; |

| ● | the Company’s ability under the Asset Purchase Agreement                                    
 to continue to exist as a public vehicle and explore strategic opportunities to maximize    
 stockholders’ value. If, instead of acquiring assets in the Asset Sale, Buyer had acquired  
 the Company’s common stock through a merger or tender offer structure, the resulting        
 going private transaction would have resulted in delisting the public vehicle and prevented 
 any continuation of the Company’s business;                                                 |

| ● | Our stockholders would continue to hold shares of our common stock                          
 following the closing of the Asset Sale and could benefit from future value creation if the 
 Company successfully executes on any post-closing business strategy;                        |

| ● | the agreed upon guaranteed purchase price of $15 million (which                                                                                                                              
 is subject to adjustment as described under “Asset Purchase Agreement                                                                                                                        
 — Consideration” beginning on page 74), together                                                                                                                                             
 with the assumption of current liabilities of Sonim in the amount of approximately                                                                                                           
 $17 million and potential earn-out, implying a value of approximately $32 million                                                                                                            
 to the Legacy Business’s assets (we caution, however, that pursuant to the Asset Purchase Agreement, if the Closing Purchase Price (as defined in the Asset Purchase Agreement) is less than 
 $0, the Company must pay a sufficient portion of the Company’s accounts payable so that the Closing Purchase Price is greater than                                                           
 $0);                                                                                                                                                                                         |

| 52 |

| ● | the Asset Sale is the result of an active, lengthy, and                                     
 thorough evaluation of strategic alternatives over the course of approximately four months,