Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 84

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 84
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 (primarily focused on provisions to increase certainty of closing, maximize the Cash         
 Consideration, and reduce liabilities retained by the Company) on an arm’s-length            
 basis with the Buyer and its legal counsel;                                                  |

| 54 |

| ○ | the                                                                                 
 belief of the board that the terms of the Asset Purchase Agreement include the most 
 favorable terms reasonably attainable from the Buyer;                               |

| ○ | the                                                                                       
 fact that the Buyer’s obligation to consummate the Asset Sale is not conditioned on       
 the Buyer obtaining third-party financing and the availability of the remedy of specific  
 performance to the Company under the Asset Purchase Agreement under certain circumstances 
 to cause the Buyer to fund the purchase price;                                            |

| ○ | the                                                                                                                             
 board considered that the following provisions of the Asset Purchase Agreement, are reasonable and advantageous to the Company; |

| ○ | the                                                                                                                  
 fact that the Asset Purchase Agreement does not preclude a third party from making an unsolicited                    
 proposal for a competing transaction with the Company and, under certain circumstances more                          
 fully described in the section titled “Asset Purchase Agreement — Covenants — No Solicitation” beginning on page 78; |

| ○ | our board                                                                                  
 may withdraw or modify its recommendations to the Company stockholders regarding the Asset 
 Sale in response to an unsolicited proposal for a competing transaction;                   |

| ○ | our                                                                                                
 board may terminate the Asset Purchase Agreement if it determines that the Alternative Transaction 
 is a Superior Proposal and that it would be inconsistent with the board’s                          
 fiduciary duties not to terminate the Asset Purchase Agreement in order to accept the Superior     
 Proposal;                                                                                          |

| ○ | the                                                                                           
 anticipated time to close the Asset Sale, which was negotiated to allow the Company to effect 
 a continuation of its business other than the Legacy Business; and                            |

| ○ | the Asset                                                                                 
 Sale is subject to the approval of the holders of a majority of our outstanding shares of 
 common stock;                                                                             |

| ● | the board’s belief that the Asset Sale would likely             
 be consummated in accordance with the Asset Purchase Agreement. |

Our board also considered and balanced the factors
described above against certain negative factors and potential risks associated with the Asset Sale, including the following factors,
which are not intended to be exhaustive and are not presented in any relative order of importance:

| ● | as described in the                                                              
 section titled “Asset Purchase Agreement — Consideration”                        
 beginning on page 74,