Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 81

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 81
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 CEO stating Orbic was “ready to move forward with a $25 million cash proposal.” The message was not substantiated, and the board determined no response was warranted.

On October 16, 2025, the Company requested consent from Social Mobile (the “Business Consent”) in connection with certain elements of and transactions ancillary to the private placements.

On November 6, 2025, due to the Company’s cash limitations in connection with orders of the Legacy Business products anticipated in the first quarter of 2026, the Company and Social Mobile expanded the ODM Arrangement to additional original device manufacturers and across the product lines of the Company’s Legacy Business by entering into a manufacturing, collaboration, and license agreement (the “Supply Chain Agreement”), which was considered to be entered in the ordinary course of business. Among other things, the Supply Chain Agreement licensed Social Mobile to sell Sonim’s products if Sonim fails to purchase the manufactured products from Social Mobile.

| 51 |

On November 24, 2025, the Company and the parties to the Asset Purchase Agreement entered into the First Amendment to the Asset Purchase Agreement to clarify certain mechanics of the transaction, including:

| ● | removal                                                                                                                           
 of all references to, and sections providing for or related to, the Company’s proposed reverse merger transaction (the “RTO”)     
 and items ancillary to the RTO (e.g., the filing by the Company of a registration statement on Form S-4), as the RTO is no longer 
 applicable to the closing of the Purchase Agreement;                                                                              |
| ● | the addition of a requirement that, after taking into account                                                                     
 the Adjustment Amount, if the Closing Purchase Price (as defined in the 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; and                 |
| ● | the addition of the Company’s German subsidiary,                                                                                  
 Sonim Technologies Germany GmbH, to the acquired subsidiaries annex of the Purchase Agreement.                                    |

Reasons for the Asset Sale and Recommendation of our Board

In the course of the board making the determinations
above in the section titled “The Special Meeting — Recommendation of our Board” beginning on page 28
of this proxy statement, the board:

| (i) | consulted with Company management and the Company’s legal counsel 
 and financial advisor;                                            |

| (ii) | took into account the recommendation of the Special Committee; and |

| (iii)