Company: SONM
Filing Date: 2025-04-30
Form Type: PRRN14A
Source: 0001213900-25-037151
Chunk: 2

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: PRRN14A
Chunk 2
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 as the “ Participants”. On January 10, 2025, Orbic entered into a non -bindingpreliminary summary of terms and conditions with AJP (the “AJP LOI”), pursuant to which Orbic indicated its intent to purchase from AJP 973,173shares of Sonim common stock, par value $0.001 per share (“ Common Stock”) that AJP acquired in 2022 when Sonim explored the sale of the entire Company. On January 15, 2025, Orbic issued a press release with regard to the execution of the AJP LOI. In the 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 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, AJP and Orbic 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 February4, 2025, Equiniti Trust Company, LLC, Sonim’s transfer agent, advised counsel to Orbic that Sonim had placed a stop transfer order with respect to the transfer of the shares of Common Stock held by AJP. On March 11, 2025, AJP and Orbic entered into an Agreement and Irrevocable Proxy (the “ Proxy Agreement”) to provide Orbic with sole voting power over all