Company: SONM
Filing Date: 2025-07-11
Form Type: DEFA14A
Source: 0001641172-25-018746
Chunk: 1

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-07-11
Form: DEFA14A
Chunk 1
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 Orbic is appropriate:

| ● | “The                                                                                         
 board’s response to date appears appropriate…[T]here are still uncertainties                 
 [with Orbic’s latest offer] and the dissident’s approach to this campaign                    
 provides a reasonable basis for the board to remain wary. Given these factors, the dissident 
 has not made a case that change is needed at the board level.”                               |

Notably, specific to Orbic’s unsolicited acquisition proposals, ISS emphasized several concerns:

| ● | “However,                                                                                      
 when considered in the proper context, it appears that the board has a reasonable basis for    
 being wary of the dissident. It is important to establish at the outset that there have        
 been concerns with the dissident’s approach at nearly every step of its campaign. The          
 dissident began by demanding that leadership immediately resign and hand over control to       
 Orbic. From there, the dissident presented offers that failed to provide a reasonable          
 level of certainty. It took multiple rejections from the board before the dissident presented  
 a financing commitment.”                                                                       |
| ● | “This                                                                                          
 approach [by Orbic] is difficult to understand, particularly when one considers factors such   
 as the dissident’s preexisting knowledge of the company, the duration of the dissident’s       
 takeover attempt (approximately five months elapsed from the first suggestion of a board       
 overhaul to the provision of a financing commitment), and the fact that the board was publicly 
 pursuing other transactions. Even the dissident’s most recent offer is strained                
 by contingencies. For instance, the offer expired less than a week after it was presented.”    |
| ● | “Instead                                                                                       
 of presenting an offer that established clarity on key terms and provided a suitable level     
 of certainty, the dissident spent months presenting SONM with unreasonable demands and         
 incomplete offers. Even the dissident’s most recent offer, which includes a financing          
 commitment, is strained by contingencies and contains ambiguities about valuation.”            |

The Sonim Board made the following statement regarding ISS’s recommendation:

“The Sonim Board is delighted that ISS has recommended stockholders to vote for our nominees at next week’s Annual Meeting. We are particularly pleased that ISS also saw through Orbic’s distractions and tactics.

1Permission to use quotes neither sought nor obtained. Emphasis added.

“As we have maintained, Orbic’s unfunded and baseless proposal amounts to nothing more than hype with no substance. After months of requests, Orbic has shown zero evidence of the proof of readily