Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 18

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 18
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,
our board may, after consultation with our outside legal counsel, make such disclosures as our board determines in good faith, that the
failure to do so would be inconsistent with the fiduciary duties of our board under applicable law. However, any disclosure that relates
to a competing proposal will be deemed to be a change in recommendation unless our board reaffirms our board’s recommendation to
approve the Asset Sale in such disclosure.

Additionally, the restrictions of a non-solicitation
provision do not extend to any reverse merger transaction that would not affect the Legacy Business and would be complementary
to and not a substitute for the transactions contemplated by the Asset Purchase Agreement.

Financing the Asset Sale (see page 79)

The Buyer is financing the Cash Consideration
payable at closing with cash and available resources on hand.

Expected Timing of the Asset Sale (see page 79)

We expect to complete the Asset Sale in the first
quarter of 2026, promptly following the Special Meeting, if the Asset Sale Proposal is approved by our stockholders and the various
other conditions to closing are satisfied or waived. However, there can be no assurance that the Asset Sale will be completed as currently
anticipated. Certain factors, including factors outside of our control and the control of the Buyer, could result in the Asset Sale being
delayed or not occurring at all.

Conditions to Closing (see page 80)

The completion of the Asset Sale is dependent
upon the satisfaction of a number of conditions, including, among other things:

| ● | receipt of stockholder approval of the Asset Sale Proposal at the 
 Special Meeting or any postponement or adjournment thereof;       |

| ● | the accuracy of the parties’ representations and warranties                                
 in the Asset Purchase Agreement, subject, in certain circumstances, to certain materiality 
 and other thresholds;                                                                      |

| ● | the performance by the parties of their obligations and covenants 
 under the Asset Purchase Agreement;                               |

| ● | the delivery by each party of certain certificates, consents, 
 resignations and other closing documentation;                 |

| ● | since the date of the Asset Purchase Agreement, no Material Adverse                        
 Effect (as defined in the Asset Purchase Agreement) shall have occurred and be continuing; 
 and                                                                                        |

| 8 |

| ● | the absence of any order issued by any governmental authority                             
 of competent jurisdiction or other law enjoining, restraining or otherwise prohibiting or 
 making illegal the consummation of the Asset Sale.                                        |

Termination of the