Company: SONM
Filing Date: 2025-06-20
Form Type: PRRN14A
Source: 0001213900-25-056078
Chunk: 12

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-20
Form: PRRN14A
Chunk 12
---
 AJP acquired in 2022. •On January 15, 2025, Orbic issued a press release with regard to the execution of the AJP LOI. In its press release, Orbic stated that it intended to initiate discussions with Sonim whereby the parties would be able to begin an arm’s length strategic process to identify, monetize and deliver operating and financial synergies to both companies’ stockholders and customers across manufacturing, operations, R&D, supply chains, and geographic market expansion opportunities globally, including the U.S., Europe, India, and other countries in Asia. •On January15, 2025, Sonim issued a press release announcing certain preliminary financial results for the fourth quarter 2024. •On January17, 2025, AJP filed Amendment No. 2 to Schedule 13D with the SEC disclosing the execution of the AJP LOI with Orbic. 2 •On January22, 2025, Sonim issued a press release announcing the formation of a special committee comprised solely of independent directors (Mr. Mike Mulica and Mr. James Cassano) (the “ Special Committee”) to explore and evaluate strategic alternatives to enhance stockholder value following the Schedule 13D/A filed by AJP on January17, 2025. As part of such press release, Sonim stated that, consistent with its fiduciary duties and in consultation with its advisors, including Roth Capital Partners, LLC (“ Roth Capital”), the Special Committee would carefully consider and evaluate strategic alternatives received from several parties including, but not limited to, Orbic, to determine the course of action that it believes is in the best interests of Sonim and its stockholders. •On February1, 2025, Orbic and AJP executed and placed into escrow, but did not release, a Securities Purchase Agreement with regard to, among other things, the purchase by Orbic from AJP of 973,173shares of Common Stock. •On February3, 2025, Mr.Wang notified the Board of Directors of Sonim and its legal counsel, Venable LLP, that AJP and Orbic had finalized documentation to consummate the transactions contemplated by the AJP LOI and that Orbic’s counsel would be following up shortly with the Special Committee to present its view on a proposal to move forward with Sonim in a collaborative arms -lengthmanner to maximize stockholder value. •On February3, 2025, Mr.Parveen Narula, Orbic