Company: SONM
Filing Date: 2025-10-09
Form Type: S-1/A
Source: 0001493152-25-017589
Chunk: 18

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-09
Form: S-1/A
Chunk 18
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 bankruptcy law, we commence a voluntary case or any Person commences a proceeding against us, a custodian is appointed for us or for all or substantially all of our property, or we make a general assignment for the benefit of our creditors (the “Termination Provisions”).

Although the Purchase Agreement provides that we may sell up to an aggregate of $500.0 million of our shares of our Common Stock to Chardan, only 350,000,000 shares of our Common Stock are being registered for resale under the registration statement that includes this prospectus. If it becomes necessary for us to issue and sell to the Selling Securityholder under the Purchase Agreement more shares than are being registered for resale under this prospectus in order to receive aggregate gross proceeds equal to $500.0 million under the Purchase Agreement, we must first file with the SEC one or more additional registration statements to register under the Securities Act the resale by the Selling Securityholder of any such additional shares of our Common Stock we wish to sell from time to time under the Purchase Agreement, which the SEC must declare effective, in each case, before we may elect to sell any additional shares of our Common Stock to the Selling Securityholder under the Purchase Agreement. Under applicable Nasdaq rules, in no event may we issue to Chardan shares of our Common Stock representing more than the 19.99% voting power or number of shares of Common Stock issued and outstanding immediately prior to the execution of Purchase Agreement, unless we obtain prior stockholder approval or if such approval is not required in accordance with the applicable Nasdaq rules because the average price of all applicable sales of our common stock to Chardan pursuant to the Purchase Agreement equals or exceeds $0.6277 per share, which represents the “Nasdaq Minimum Price” as of the date of the execution of the Purchase Agreement. In addition, Chardan is not obligated to buy any Common Stock under the Purchase Agreement if such shares, when aggregated with all other Common Stock then beneficially owned by Chardan and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in Chardan beneficially owning Common Stock in excess of 4.99% of our outstanding voting power or shares of Common Stock (the “Beneficial Ownership Limitation”).

The Purchase Agreement and the registration rights agreement, dated as of September 29, 2025, by and between the Company and Chardan, entered into in