Company: SONM
Filing Date: 2025-06-20
Form Type: PRRN14A
Source: 0001213900-25-056078
Chunk: 18

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-20
Form: PRRN14A
Chunk 18
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,100,000shares of Common Stock; and (ii) warrants to purchase up to 550,000shares of Common Stock, for an aggregate purchase price of $1.375 million, or $1.25 per share (assuming that the 550,000 warrants have no value). •On May16, 2025, Orbic submitted to the Company’s Board of Directors, an updated non -bindingproposal (the “ Revised Acquisition Proposal”) to acquire Sonim in a business combination in which the Company’s stockholders would receive a cash purchase price of $1.81 per share. In the Revised Acquisition Proposal, Orbic noted that its revised price was the result of the substantial dilution that had occurred from the time of the Preliminary Acquisition Proposal, the continuing decline in Sonim’s stock price and the impact of the entrenchment activities undertaken by the Board and management. •On May19, 2025, the Special Committee issued a letter to Orbic in regard to the Revised Acquisition Proposal in which the Special Committee stated that it did not view the Orbic offer as viable and effectively cut -offany further discussions with Orbic. •On June 2, 2025, the Delaware Action was dismissed without prejudice by the parties to the Delaware Action. •On June2, 2025, Sonim announced that it signed a LOI to sell substantially all of the Company’s assets to Social Mobile ®. The LOI contemplates a purchase price of $15million and includes up to an additional $5million in earn -outconsideration contingent upon achieving target revenue, which was undisclosed in the press release. •On June16, 2025, Sonim announced that it received an unsolicited indication of interest (“IOI”) from DOOGEE on June9, 2025, to acquire all outstanding shares of Sonim common stock for $3.60 per share in cash. •On June18, 2025, Sonim announced that it is in negotiations for the sale of the public shell through a reverse merger, no agreement has been signed, nor has a candidate been named. 6 REASONS FOR THE SOLICITATION The AJP/Orbic Parties strongly believe that the AJP/Orbic Nominees are the right leaders for Sonim at this critical time and that only through a transformation in leadership will the Company and stockholders see meaningful positive change. Despite unprecedented market volatility, staggering financial losses and significant decline in stock price, including -8 2.