Company: SONM
Filing Date: 2025-06-24
Form Type: DEFN14A
Source: 0001213900-25-057305
Chunk: 17

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-24
Form: DEFN14A
Chunk 17
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 and certain members of the Company’s Board (the “ Director Defendants”) seeking relief to: (i) permanently enjoin Sonim and its Board from taking any action to prevent AJP and Orbic from exercising their rights in accordance with the Company’s By -Lawsto nominate directors, and (ii) find that the Director Defendants breached their fiduciary duties. In the Complaint, AJP and Orbic alleged that Sonim’s rejection of the Notice was inconsistent with the By -Lawsand part of the Company’s and the Board’s unlawful strategy to entrench current leadership and prevent the AJP/Orbic Parties from running a rival slate of highly qualified director candidates, thereby precluding Sonim’s stockholders from exercising their franchise. •On May11, 2025, Sonim notified the AJP/Orbic Parties that they would be permitted to proceed with their nomination of candidates for election to the Sonim Board at the 2025 Annual Meeting. •On May12, 2025, Sonim filed its Quarterly Report on Form 10 -Qfor the fiscal quarter ended March31, 2025 with the SEC. In this report, Sonim disclosed that, during the quarter, it issued 555,845 RSUs, all of which were fully vested based on the April17, 2025 acceleration. In addition, this report disclosed that during the quarter: (i) Sonim had issued and sold 1,349,840shares of Common Stock under its at -the-market(“ ATM”) offering program for net proceeds of approximately $3.7million after the payment of commission and fees and other related expenses of approximately $119,000; and (ii) subsequent to March31, 2025, the Company had issued and sold an additional 2,130,437shares of Common Stock under its ATM offering program for net proceeds of approximately $4.5million after payment of commission fees and other related expenses of approximately $139,000. •On May12, 2025, Sonim’s counsel sent an e -mailto the AJP/Orbic Parties, providing AJP/Orbic with the required notification of the Company’s nominees for election at the 2025 Annual Meeting, pursuant to Rule 14a -19(d) under the Securities Exchange Act of 1924, as amended (the “ Exchange Act”). 5 •On May12, 2025, Sonim entered into subscription agreements and registration rights agreement with Lytton -KambaraFoundation and