Company: SONM
Filing Date: 2025-11-24
Form Type: PREM14A
Source: 0001493152-25-024848
Chunk: 108

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: PREM14A
Chunk 108
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| ● | assume our liabilities as specified in the Asset Purchase Agreement; |

| ● | pay us a purchase price equal to $15 million in cash, subject                             
 to customary working capital, indebtedness, and transaction expense adjustments (referred 
 to in the Asset Purchase Agreement as the “Adjustment Amount,” which may be a             
 positive or a negative number) (the “Cash Consideration”); and                            |

| ● | pay us up to $5 million in cash as an earn-out payment, if earned. |

Earn-Out

The earn-out payment, if any, will be determined
based on the performance of the Business during the twelve-month period beginning July 1, 2025, and ending June 30, 2026. If, during
such period, the Business generates Net Revenue (as defined in the Asset Purchase Agreement) in excess of $70 million, the Company will
be entitled to receive an amount equal to 50% of the Net Revenue above such threshold, calculated in accordance with the terms of the
Asset Purchase Agreement, provided that the earn-out payment will not exceed $5 million.

For purposes of the Asset Purchase Agreement, “Net
Revenue” generally means the gross revenue of the Business determined in accordance with GAAP minus:

| ● | customary trade, quantity, and cash discounts actually taken; |

| ● | credits, allowances, rebates, and chargebacks for returns, rejections, 
 damaged goods, and billing errors;                                     |

| 74 |

| ● | outbound freight, insurance, customs duties, and other transportation 
 charges directly related to such sales;                               |

| ● | sales, value-added, use, and similar taxes (other than income taxes)           
 collected from customers and remitted to the appropriate taxing authority; and |

| ● | any other items that, in accordance with GAAP, are specifically and 
 solely deductible from gross revenue to arrive at net revenue.      |

The Company estimates that, if the Asset Sale closes on or about [December 31],
2025, the Company will have Post-Closing Cash of approximately $3 million to $5 million. In this proxy statement, the term “Post-Closing
Cash” refers to (i) the Cash Consideration plus (ii) the cash, cash equivalents, and marketable securities that will be retained
by the Company (and withheld from the Asset Sale) minus (iii) the transaction expenses payable by the Company at closing and (iv)
the payment of up to $3