Company: SONM
Filing Date: 2025-04-30
Form Type: PRRN14A
Source: 0001213900-25-037151
Chunk: 16

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: PRRN14A
Chunk 16
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2025, Sonim issued a press release providing an update on the Special Committee’s strategic review process, noting that it continued to receive and evaluate inbound potential strategic alternatives in order to maximize stockholder value. In addition, Sonim stated that it had not decided on any specific path or transaction. Sonim affirmed that as of such date there had been no management discussions between Sonim and Orbic. •On March5, 2025, Mr.Benedict received follow -upemail correspondence from a representative of Roth Capital inquiring about Orbic’s interest in Sonim and which included a draft confidentiality and non -disclosureagreement with the two -yearstandstill provision. This email correspondence stated that the non -disclosureagreement would need to be executed before further additional details would be shared. Given Orbic’s agreements 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. •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. 3 •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 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 March