Company: SONM
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009749
Chunk: 21

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 21
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 stockholder rights plan, as set forth in the Rights Agreement,
dated as of April 21, 2025 (the “Rights Agreement”), by and between the Company and Equiniti Trust Company, LLC, a New York
limited liability company, as rights agent. The dividend is payable to stockholders of record of the Company as of the close of business
on May 2, 2025.

Each
Right will allow its holder to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock
(the “Preferred Shares”), par value $0.001 per share, for $4.00 (the “Purchase Price”), once the Rights become
exercisable. The Purchase Price payable, and the number of Preferred Shares or other securities or other property issuable upon exercise
of the Rights will be subject to adjustment from time to time to prevent dilution in the event of a stock dividend on, or a subdivision,
combination or reclassification of, the Preferred Shares. The Rights are exercisable only if a person or group acquires 15.5% or more
of the Company’s outstanding common stock (an amount of “less than 20%” in the case of a passive institutional investor
as described in the Rights Plan), commences tender or exchange offer, or a similar event, as described in detail in the Purchase Agreement.

Additional
information regarding the Rights Agreement is contained in a Current Report on Form 8-K filed with the SEC. To date, the adoption of
the shareholder rights plan described above had no impact on the financial position of the Company.

16

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking
Statements

You
should read the following discussion and analysis of our financial condition and results of operations together with “Cautionary
Note About Forward-Looking Statements” and our condensed consolidated financial statements and related notes included under Item
1 of this Quarterly Report as well as our most recent Annual Report on Form 10-K for the year ended December 31, 2024 as amended, including
Part 1, Item 1A “Risk Factors.”

Company
Overview

Sonim
Technologies, based in the United States, is a leading provider of enterprise 5G solutions, offering a robust portfolio that includes
rugged handsets, smartphones, wireless internet devices, software, services, and accessories. These products are engineered for reliable
communication in challenging and unpredictable environments