Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 39

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 39
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 to purchase up to 1,375 shares
of our common stock, as adjusted for the Reverse Stock Splits, on July 2, 2025. Each warrant has an exercise price of $24.912 per share,
as adjusted for the Reverse Stock Splits.

On
April 29, 2024, we consummated a private placement with a single investor and sold 19,444 shares of our common stock, as adjusted for
the Reverse Stock Splits, and warrants to purchase up to 19,444 shares of our common stock for an exercise price of $198.00 per share,
as adjusted for the Reverse Stock Splits, for an aggregate purchase price of $3.85 million. We used the net proceeds from the private
placement for working capital and general corporate purposes. On August 7, 2025, the Company and the investor entered into an amendment
to reduce the exercise price of the warrants to $13.50 per share, as adjusted for the Reverse Stock Splits.

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 could sell up to an aggregate of $8.9 million in shares of common stock through Roth, as
sales agent. During the nine months ended September 30, 2025, a total of 193,405 shares of common stock, as adjusted for the Reverse
Stock Splits, were sold under the Sales Agreement for net proceeds of $8.2 million after payment of commission fees and other related
expenses of $0.3 million. In the second quarter of 2025, the Company completed its sales of shares of common stock under the Sales Agreement
and terminated the ATM program.

Sales
of shares of our common stock made pursuant to the Sales Agreement were made under the effective Registration Statement on Form S-3.
Roth was entitled to compensation at a commission rate of 3% of the gross sales price per share. For additional information, refer to
Note 5, Stockholders’ Equity, to the condensed consolidated financial statements contained within this report under the title “ATM
Offering.”

Registered
Public Offering

On
July 2, 2025, the Company consummated a best-efforts public offering (the “Offering”) of 411,111 shares of its common stock,
as adjusted for