Company: SONM
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009749
Chunk: 13

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 13
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 may be
adjusted upon advance notice).

    11

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 may sell, at its option, shares of common stock through Roth, as sales agent. Sales of shares
of the Company’s common stock made pursuant to the Sales Agreement are being made under the Registration Statement on Form S-3
filed on April 9, 2024 (File No. 333-278577) (the “Registration Statement”), which was declared effective by the SEC on May
3, 2024. Subject to the terms and conditions of the Sales Agreement, Roth may sell the shares, if any, only by methods deemed to be an
“at the market” offering as defined in Rule 415(a)(4) promulgated under the Securities Act. Roth will be entitled to compensation
at a commission rate of 3% of the gross sales price per share sold through it under the Sales Agreement. The Company agreed to provide
Roth with customary indemnification and contribution rights, including for liabilities under the Securities Act. In addition, the Company
is required to reimburse Roth for certain specified expenses in connection with entering into the Sales Agreement.

The
Company has no obligation to sell shares under the Sales Agreement, but it may do so from time to time. During the three months ended
March 31, 2025, a total of 1,349,840 shares of common stock were sold under the Sales Agreement for net proceeds of $3,731 after payment
of commission fees and other related expenses of $119. Additional shares of the Company’s common stock were sold after March 31,
2025. See Note 11, Subsequent Events.

NOTE
6 — Stock-Based Compensation

Stock-based
compensation expense is as follows:

 Schedule of Stock Based Compensation Expense

    2025  
    2024 

    Three Months Ended 

    March 31, 

    2025  
    2024 
  
    Cost of revenues 
    $2  
    $12 
  
    Research and development 
     2  
     7 
  
    Sales and marketing 
     65  
     86 
  
    General and administrative 
     221  
     219 
  
    Stock