Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 295

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 295
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 deemed appropriate.                                                               |

We have assumed and relied upon,
without independent verification, the accuracy and completeness of the information that was publicly available or supplied or otherwise
made available to us by the Company, which formed a substantial basis for this opinion, and have further relied upon the assurances of
the management of the Company that such information does not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements contained therein not misleading in any material respect. With
respect to the Financial Projections, we have been advised by the management of the Company, and assumed, that they have been reasonably
prepared on bases reflecting the best currently available estimates and judgments of the management of the Company of the future financial
performance of the Company and we express no view as to the assumptions on which they are based. In addition, we have assumed that the
final executed Asset Purchase Agreement will not differ in any material respect from the draft Asset Purchase Agreement reviewed by us,
and that the Asset Sale will be consummated in accordance with the terms set forth in the Asset Purchase Agreement without any waiver,
amendment or delay of any terms or conditions. We have also assumed that in connection with the receipt of all the necessary governmental,
regulatory or other approvals and consents required for the proposed Asset Sale, no delays, limitations, conditions or restrictions will
be imposed that would have an adverse effect on the Company or the contemplated benefits expected to be derived in the proposed Asset
Sale. We are not legal, tax, accounting or regulatory advisors.

We are financial advisors only
and have relied upon, without independent verification, the assessment of the Company and its legal, tax, accounting and regulatory advisors
with respect to legal, tax, accounting and regulatory matters. We express no opinion with respect to the fairness of the amount or nature
of the compensation to any of the Company’s officers, directors or employees, or any class of such persons, relative to the Purchase
Price to be received by the Company.

We have not made any independent
valuation or appraisal of the assets or liabilities (fixed, contingent or otherwise) of the Company, nor have we been furnished with
any such valuations or appraisals, nor have we assumed any obligation to conduct, nor have we conducted, any physical inspection of the
properties, facilities or other assets of the Company. We have not evaluated the solvency of the Company under any law of any jurisdiction
relating to bankruptcy, insolvency or similar