Company: SONM
Filing Date: 2025-06-20
Form Type: PRRN14A
Source: 0001213900-25-056078
Chunk: 14

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-20
Form: PRRN14A
Chunk 14
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 with AJP regarding the purchase of its shares and the actions taken by Sonim to delay such transfer, Orbic was not agreeable to executing any confidentiality and non -disclosureagreement that included a standstill provision. 3 •On March11, 2025, AJP and Orbic entered into the Proxy Agreement with AJP to provide Orbic with sole voting power over all 1,946,345shares of Common Stock held by AJP to use in connection with a contemplated proxy solicitation for the election of a slate of nominees to the Company’s board of directors at its 2025 Annual Meeting. •On March18, 2025, Orbic purchased 1,000shares of Common Stock in the open market at a price of $2.19 per share. •On March18, 2025, AJP and Orbic filed Amendment No. 3 to Schedule 13D with the SEC disclosing the execution of the Proxy Agreement and the 1,000share of Common Stock purchase by Orbic. •On March20, 2025, AJP and Orbic submitted to the Company its formal notice of intent (the “ Notice”) to nominate the AJP/Orbic Nominees to the Board following weeks of the Company having failed, in the view of the AJP/Orbic Parties, to constructively and meaningfully engage with Orbic in private in respect of a potential strategic business combination transaction. •On March24, 2025, AJP and Orbic filed Amendment No. 4 to Schedule 13D with the SEC disclosing the submission of the Notice to nominate the AJP/Orbic Nominees by AJP and Orbic to Sonim. •On March31, 2025, Sonim issued a press release announcing its full year 2024 financial results, which included, among other things: (i) a decrease in full year 2024 revenue of (38%) year -overyear; (ii) full year negative gross margin was (17%); and (iii) a net loss of ($33.6 million) dollars, or ($7.13) per share, for full year 2024. •On March31, 2025, Orbic submitted to Sonim’s Board a non -bindingproposal (the “ Preliminary Acquisition Proposal”) to acquire Sonim in a business combination in which the Company’s stockholders would receive a cash purchase price of $4.00 per share. •On March31