Company: SONM
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022821
Chunk: 36

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 36
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 trading symbol, and with
a new business focus. There can be no assurance that the Asset Purchase Agreement or any RTO transaction will ultimately be consummated
timely or at all.

Recent
Developments

Recent
Product Awards

The
first step in selling our products through wireless telecommunications carriers is to receive a product award from the carrier. The award
documents the intent of the carrier to carry the proposed product and offer it to customers through their stores or online. The carrier
and Sonim agree to a launch date that is generally nine months or longer from the date of the product award. After the product award,
the Company and its partners complete the design that includes the unique specifications from the carrier, test the device, obtain certification
from the carrier to sell the device, and begin full scale manufacturing of the product based on purchase orders issued by the carrier.

As
of the filing date of this report, Sonim is completing the development, testing and certification of new products that it expects to
launch in the second half of 2025 with various carriers.

23

Equity
Financings

On
May 12, 2025, we consummated a private placement with two investors and sold 1,100,000 shares of our common stock and warrants to purchase
up to 550,000 shares of our common stock for an exercise price of $1.3864 per share for an aggregate purchase price of $1.38 million.
We used the net proceeds from the private placement for working capital and general corporate purposes.

On
April 29, 2024, we consummated a private placement with a single investor and sold 350,000 shares of our common stock (as adjusted for
the Reverse Stock Split) and warrants to purchase up to 350,000 shares of our common stock for an exercise price of $11.00 per share
(as adjusted for the Reverse Stock Split) for an aggregate purchase price of $3.85 million. We used the net proceeds from the private
placement for working capital and general corporate purposes.

ATM
Offering

On
August 6, 2024, the Company entered into a sales agreement (the “Sales Agreement”) with Roth Capital Partners, LLC (“Roth”).
Pursuant to the Sales Agreement, the Company could sell up to an aggregate of $8.9 million in shares of common stock through Roth, as
sales agent. During the six months ended June 30, 2025, a