Company: SONM
Filing Date: 2025-11-24
Form Type: PREM14A
Source: 0001493152-25-024848
Chunk: 81

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: PREM14A
Chunk 81
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 broad assumption of current liabilities of the Legacy Business, including vendor and customer 
 obligations for pre-closing periods, subject only to limited, well-defined exceptions;        |

| ○ | the Post-Closing                                                                       
 Cash to be received or retained by the Company upon the closing of the Asset Sale; and |

| ○ | the                                                         
 Buyer will pay up to $5 million in the form of an earn-out. |

| ● | the Company’s                                                                                    
 ability under the Asset Purchase Agreement to continue to exist as a public vehicle and explore  
 strategic opportunities to maximize stockholders’ value. If, instead of acquiring assets         
 in the Asset Sale, Buyer had acquired the Company’s common stock through a merger or             
 tender offer structure, the resulting going private transaction would have resulted in delisting 
 the public vehicle and prevented any continuation of the Company’s business.                     |

| ● | Our stockholders would continue to hold shares of our common stock                                                               
 following the closing of the Asset Sale and could benefit from future value creation if the Company successfully executes on any 
 post-closing business strategy.                                                                                                  |

| ● | the agreed upon guaranteed purchase price of $15 million                       
 (which is subject to adjustment as described under “Asset Purchase             
 Agreement — Consideration” beginning on page 74),                              
 together with the assumption of liabilities of Sonim, implying a value of $[●] 
 of the Legacy Business                                                         |

| 52 |

| ● | the Asset Sale is the result of an active, lengthy, and                                     
 thorough evaluation of strategic alternatives over the course of approximately four months, 
 during which Roth Capital contacted 52 potential counterparties to assess potential         
 interest;                                                                                   |

| ● | the fact that after publicly announcing that the Special Committee                       
 of our board was exploring strategic alternatives and the wide outreach of Roth Capital, 
 the Company received only nine (9) additional inbound inquiries (of which only           
 five (5) requested a meeting with our management) and an attempt of a hostile takeover   
 from a competitor:                                                                       |

| ○ | after                                                                                
 discussing the inquiries with Roth Capital, the Special Committee determined that,   
 of those potential inquiries, Orbic’s proposals were not credible, and the inquiries 
 of the counterparties targeting only a portion of the Legacy Business were not in    
 the best interest of the Company; and                                                |

| ○ | the                                                                                    
 other 43 potential counterparties did not move forward in the strategic review process 
 following the execution of a non-disclosure agreement.