Company: SONM
Filing Date: 2025-06-20
Form Type: S-1
Source: 0001641172-25-015940
Chunk: 8

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-20
Form: S-1
Chunk 8
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 up to 550,000
shares of our common stock for an exercise price of $1.3864 per share for an aggregate purchase price of $1,375,000 (or $1.25
per each share of our common stock and the accompanying warrant). We used the net proceeds from the private placement for working capital
and general corporate purposes. The shares of our common stock sold in the private placement (including those underlying the warrants)
are subject to registration rights, and we expect to file a registration statement to register those shares on or before July 12, 2025.

ATM Offering

On August 6, 2024, the Company entered into a sales agreement (the “Sales Agreement”) with Roth Capital Partners, LLC (“Roth”). Pursuant to the Sales Agreement, the Company may sell, at its option, up to an aggregate of $8.9 million in shares of common stock through Roth, as sales agent. Sales of shares of our common stock made pursuant to the Sales Agreement are being made under the effective Registration Statement on Form S-3. Roth is entitled to compensation at a commission rate of 3% of the gross sales price per share. For additional information, refer to Note 7-Stockholders’ Equity to the consolidated financial statements incorporated by reference in this prospectus under the title “ATM Offering.”

During the three months ended March 31, 2025, a total of 1,349,840 shares of common stock were sold under the Sales Agreement for net proceeds of $3.7 million after payment of commission fees and other related expenses of $0.1 million. Subsequent to March 31, 2025, a total of 2,130,437 shares of common stock were sold under the Sales Agreement for net proceeds of $4.5 million after payment of commission fees and other related expenses of $0.1 million. As of the filing date of this prospectus, the Company has completed its sales of shares of common stock under the Sales Agreement and the ATM program has been terminated.

Receivables Financing Agreement

To improve its liquidity, on September 23, 2024, the Company entered into an invoice purchase agreement (the “Receivables Financing Agreement”) with LS DE LLC (“LS”), pursuant to which LS will provide receivables factoring to the Company, pursuant to which LS will advance 80% of the face value of the receivables being sold by the Company, up to a maximum of $