Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 85

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 85
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 the Cash Consideration (and, as a result, the Post-Closing 
 Cash) is subject to adjustments;                                                 |

| ● | earn-out consideration may never be paid to the Company; |

| ● | the fact that the Buyer has not agreed to assume all of the Company’s             
 liabilities, including liabilities associated with certain third-party            
 claims, including the IP Litigation and other potential liabilities (as described 
 in the section titled “Asset Purchase Agreement — Assumption                      
 and Transfer of Liabilities — Excluded Liabilities” beginning on page             
 73);                                                                              |

| 55 |

| ● | the incurrence of significant costs and expenses in connection                     
 with attempting to complete the Asset Sale, including legal, accounting, and other 
 costs;                                                                             |

| ● | the belief of the board                                                                     
 and its Special Committee that the hostile takeover attempt by Orbic, the proxy contest and 
 related dynamics adversely affected the Company’s ability to solicit and negotiate          
 with potential bidders and impacted the Cash Consideration;                                 |

| ● | the assets being sold to the Buyer include substantially all of 
 our non-cash assets;                                            |

| ● | the terms of the Asset Purchase Agreement that place restrictions                          
 on our ability to consider an alternative strategic transaction and to terminate the Asset 
 Purchase Agreement and accept a Superior Proposal;                                         |

| ● | one or more third parties                                                                        
 could assert claims against us, either before or after the closing of the Asset Sale, and        
 seek damages or other remedies, and we might be required to spend substantial time and resources 
 defending any such claims;                                                                       |

| ● | the fact that the Asset                                                                  
 Sale is subject to certain closing conditions, some of which are outside of our control; |

| ● | the fact that the Company                                                                      
 has a dispersed stockholder base that includes a significant portion of retail stockholders,   
 which increases the difficulty of obtaining the required approval of the holders of a majority 
 of the outstanding shares of the Company’s common stock;                                       |

| ● | the                                                                                         
 fact that the board will evaluate alternatives for the use of the Post-Closing Cash but has 
 not determined how the Post-Closing Cash will be utilized and while those alternatives are  
 currently expected to include using the Post-Closing Cash to fund the Company’s             
 operational expenses;                                                                       |

| ● | that fact that, because of the                                                          
 disposition of the Legacy Business, the Company may be considered to be a shell company 
 for the purpose of the Exchange Act Rule 12b-