Company: SONM
Filing Date: 2025-11-24
Form Type: PREM14A
Source: 0001493152-25-024848
Chunk: 9

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: PREM14A
Chunk 9
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 Annex A)

We have entered into the Asset Purchase Agreement
with the Buyer, Seller Representative, and the Parent that provides, among other things, that we will sell substantially all assets
of the Company and its subsidiaries related to the Legacy Business, subject to the satisfaction or waiver of the conditions set forth
therein, including the approval of the Asset Purchase Agreement, the Asset Sale and the other transactions contemplated by the Asset
Purchase Agreement by the holders of a majority of the outstanding shares of our common stock entitled to vote thereon at the Special
Meeting.

A copy of the Asset Purchase Agreement is attached
as to this proxy statement. You are encouraged to read the Asset Purchase Agreement carefully and in its entirety.

Consideration for the Asset Sale (see page 34)

As consideration for the Asset Sale, the Buyer
will pay to the Company:

| ● | $15 million in cash, subject to  customary                              
 working capital, indebtedness, and transaction expense adjustments, and |

| 2 |

| ● | up to $5 million in cash in the form of an earn-out payment, 
 if earned.                                                   |

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 $3.2 million of our indebtedness; , that the term “Post-Closing Cash” excludes
any earn-out payments from the Buyer.

[The Seller will, if the Closing occurs, pay up to
up to [$3.2] million of our indebtedness under certain promissory notes that remain unpaid].

Given the Legacy Business’s current negative
cash flow, the amount of Post-Closing Cash would be adversely affected by any delays in closing the Asset Sale.

Guaranty (see page 75)

The Parent has agreed to guarantee the full, prompt, and complete payment and performance of all obligations
of the Buyer under the Asset Purchase Agreement (including payment of the Cash Consideration, all assumed Company
transaction expenses in accordance with the Asset Purchase Agreement and certain agreed upon indemnification obligations as set forth
in the Asset