Company: SONM
Filing Date: 2025-06-24
Form Type: DEFN14A
Source: 0001213900-25-057305
Chunk: 45

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-24
Form: DEFN14A
Chunk 45
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uciary duties to the Company and the stockholders. We anticipate that the total expenses that Orbic will incur in furtherance of, or in connection with, the solicitation of proxies for the 2025 Annual Meeting will be approximately $1.6million. The actual amount could be higher or lower depending on the facts and circumstances arising in connection with any such solicitation. As of the date hereof, the AJP/Orbic Parties have incurred approximately $1.2million of solicitation expenses. 28 CERTAIN INFORMATION REGARDING THE PARTICIPANTS As described herein, the Participants in the proxy solicitation are comprised of the AJP/Orbic Parties and the AJP/Orbic Nominees. One or more Participants is, or was within the past year, party to the contracts, arrangements or understandings with respect to securities of Sonim that are set forth below or elsewhere in this Proxy Statement (including in the section of this Proxy Statement entitled in the section entitled “Interests of the AJP/Orbic Nominees”), in each case as further described below or in such other section of the Proxy Statement. On January 10, 2025, Orbic entered into the AJP LOI with AJP for the purchase by Orbic of 973,173shares of Common Stock of Sonim at a purchase price of $4.21 per share, which was equal to the current market price of the shares of Common Stock of the Company plus a 30% premium, for aggregate consideration of $4.1 million. In addition, the AJP LOI provides for AJP to grant Orbic an option to purchase an additional 486,586shares of Common Stock of Sonim and a right of first purchase relative to remaining 486,587shares of Common Stock retained by AJP. The AJP LOI provides that the purchase price will be paid as follows: (i) $200,000 on the date of signing of a definitive purchase agreement as a non -refundabledeposit; and (ii) the balance to be paid within six months of the closing of the transaction. The AJP LOI also provides for Orbic to pledge the shares of common stock being sold to AJP as security for the payment. Orbic and AJP have negotiated, finalized and placed in escrow signed definitive documents to carry out the terms of the AJP LOI. The escrow remains in place and has not been released. On February1, 2025, Orbic and A