Company: SONM
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022821
Chunk: 68

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 68
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 of common stock described above.

Roth
served as the exclusive placement agent in connection with the Offering. The
Company paid Roth a cash fee of 7.0% of the aggregate gross proceeds raised at the closing of the Offering, and reimbursement
of certain expenses and legal fees in the amount of $0.1 million. The Company also issued to designees of Roth warrants
to purchase up to an aggregate of 208,875 shares of common stock (the “Placement Agent Warrants”). The Placement Agent Warrants
have an exercise price of $0.75 per share, are not exercisable until January 2, 2026, and expire on July 2, 2030.

The
net proceeds of the Offering are approximately $4.8 million, after deducting the Placement Agent fees and expenses and other estimated
offering expenses payable by the Company. The Company used the net proceeds of the Offering for overall business strategy, for working
capital purposes and for general corporate purposes.

Receivables
Financing Agreements

To
improve its liquidity, on September 23, 2024, the Company entered into an invoice purchase agreement (the “Receivables Financing
Agreement”) with LS DE LLC (“LS”), pursuant to which LS will provide receivables factoring to the Company, pursuant
to which LS will advance 80% of the face value of the receivables being sold by the Company, up to a maximum of $2.5 million of eligible
customer invoices from the Company. As of June 30, 2025, there were no borrowings outstanding under the Receivables Financing Agreement.
For additional information, refer to Note 1, The Company and Its Significant Accounting Policies, to the condensed consolidated financial
statements contained within this report under the title “Receivables Financing Agreement.”

To improve its liquidity, on August 7,
2025, the Company entered into a factoring agreement (the “Additional Receivables Financing Agreement”) with Tradewind GmbH
(“Tradewind”), pursuant to which Tradewind will provide international receivables factoring to the Company, pursuant to which
Tradewind will advance 85% of the face value of the receivables being sold by the Company, up to a maximum of €3.0 million of eligible
customer invoices from the Company. For additional information, refer to Note 11, Subsequent Events, to the condensed consolidated financial
statements contained within this