Company: SONM
Filing Date: 2025-06-24
Form Type: DEFN14A
Source: 0001213900-25-057305
Chunk: 2

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-24
Form: DEFN14A
Chunk 2
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JP / Orbic Parties” or “ we”, “ us” or “ our”. The AJP/Orbic Parties and the AJP/Orbic Nominees are collectively referred to as the “ Participants”. As significant stockholders of Sonim, the AJP/Orbic Parties believe that meaningful change is urgently needed at the Company for the benefit of all stockholders. To this end, the AJP/Orbic Parties have nominated a full slate of five highly qualified director candidates for election at the 2025 Annual Meeting. Despite having formed a special committee of independent directors (Mr.Mike Mulica, Mr.James Cassano and Mr.Jack Steenstra) (the “ Special Committee”) several months ago, the Special Committee has been painfully slow to act in finding a strategic opportunity to maximize the value to Sonim’s stockholders, despite unprecedented market volatility and in the face of staggering financial losses, including a 2024 annual net loss of ($33.6million) or ($7.13) per share. Despite continuing losses, lackluster financial performance, and a sharply declining stock price, Sonim and its Board have chosen a path of self -preservationinstead of seeking to create value for all stockholders. As detailed in the “ BACKGROUND TO THIS SOLICITATION” and “ REASONS FOR THE SOLICITATION,” Orbic has made two compelling offers to acquire the outstanding Common Stock which it does not already own (or that is held by AJP) from current stockholders, most recently at a price of $1.81 per share, which represented a 98.9% premium to the closing stock price of Sonim on May16, 2025 (the closing price immediately preceding the release of Orbic’s revised offer). However, rather than engage with Orbic regarding a potential business combination that could provide stockholders with real value and a strategic pathway forward for the Company, the Special Committee and management have chosen to not substantively engage in discussions with Orbic and instead have focused their efforts toward implementation of anti -takeoverprotections and dilutive stock offerings. Further, on June2, 2025, Sonim announced that it signed a Letter of Intent (the “ LOI”) with Social Mobile ®to sell substantially all of the Company’s assets (the “ Proposed Social Mobile ® Transaction”). The AJP/Orbic Parties have serious concerns about the Proposed Social Mobile ®Transaction. AJP/Orbic Parties believe strongly in Sonim’s opportunity to create significantly