Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 90

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 4
Chunk 90
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31, 2025, to regain compliance with Listing Rule 5550(b)(1),
there can be no assurance that we will regain compliance with, or continue to satisfy, any applicable Nasdaq requirements within the
relevant cure periods, if at all.

If
Nasdaq delists our common stock from trading on its exchange and we are not able to list our common stock on another national securities
exchange, we expect our common stock could be quoted on an over-the-counter market. If this were to occur, we could face significant
material adverse consequences, including:

    ●
    a
    limited availability of market quotations for our common stock;

    ●
    reduced
    liquidity for our common stock;

    ●
    a
    determination that our common stock is a “penny stock” which will require brokers trading in our common stock to adhere
    to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our securities;

    ●
    negative
    publicity;

    ●
    a
    limited amount of news and analyst coverage;

    ●
    loss
    of eligibility to register the sale or resale of our securities on Form S-3; and

    ●
    a
    decreased ability to issue additional securities or obtain additional financing in the future.

32

The
risk factor titled “Some provisions of Delaware law and our certificate of incorporation and bylaws may delay or prevent a change
in control and may discourage bids for our common stock at a premium over its market price” is amended and restated as follows:

Some
provisions of Delaware law and our certificate of incorporation and bylaws and the adoption of the rights plan may delay or prevent a
change in control and may discourage bids for our common stock at a premium over its market price.

Our
certificate of incorporation and bylaws provide for, among other things:

    ●
    the
    authorization of undesignated preferred stock, the terms of which may be established and shares of which may be issued without stockholder
    approval;

    ●
    advance
    notice requirements for stockholder proposals; and

    ●
    certain
    limitations on convening special stockholder meetings.

These
anti-takeover defenses could discourage, delay or prevent a transaction involving a change in control of our company or changes in our
management, including transactions in which our stockholders might otherwise receive a premium for their common stock over then current
market prices. These provisions could