Company: SONM
Filing Date: 2025-09-09
Form Type: PRE 14A
Source: 0001493152-25-012903
Chunk: 13

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-09-09
Form: PRE 14A
Chunk 13
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holders at the Special Meeting, and to fix the specific ratio for the Reverse Stock Split, provided that the ratio would be not less than 1-for-2 and not more than 1-for-30. We believe that enabling our board to fix the specific ratio of the Reverse Stock Split within the stated range will provide us with the flexibility to implement the split in a manner designed to maximize the anticipated benefits to us and our stockholders, as described below. The determination of the ratio of the Reverse Stock Split will be based on a number of factors, described further below under the heading “ Determination of the Reverse Stock Split ratio.”

If the Reverse Stock Split Proposal
is approved by our stockholders and our board determines to effect the Reverse Stock Split, the Reverse Stock Split will become effective
upon the time specified in the Reverse Split Amendment, as filed with the Secretary of State of the State of Delaware. The exact timing
of the filing of the Reverse Split Amendment and the Reverse Stock Split will be determined by our board based on its evaluation as to
when such action will be the most advantageous to us and our stockholders. Our board reserves the right, notwithstanding stockholder
approval and without further action by our stockholders, to abandon the Reverse Split Amendment and the Reverse Stock Split if, at any
time prior to the effectiveness of the filing of the Reverse Split Amendment with the Secretary of State of the State of Delaware, our
board, in its sole discretion, determines that it is no longer in our best interest and the best interests of our stockholders to proceed.
If our board does not effect any Reverse Stock Split on or prior to the one-year anniversary of the Special Meeting, stockholder approval
would again be required prior to implementing any reverse stock split.

Reasons for the Reverse Stock Split

Regaining Compliance with the Minimum Bid Price Rule

Our primary objective in asking for
the authority to effect the Reverse Stock Split is to raise the per share trading price of our common stock. Our common stock is publicly
traded and listed on Nasdaq Capital Market under the symbol “SONM.” To maintain listing, Nasdaq requires, among other things,
that our common stock maintain a minimum closing bid price of $1.00 per share (the “Minimum Bid Price Rule”).

On August 13, 2025, we received a letter
from Nasdaq notifying us that, because the bid price for our common stock has fallen below $1.00 per share for 30 consecutive business
days, we no longer comply