Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 22

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 22
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 2030. The exercise prices of the Placement Agent Warrants are subject to appropriate adjustment in the
event of stock dividends, stock splits, stock combinations, reorganizations or similar events affecting the Common Stock. Subject to
limited exceptions, a holder of Placement Agent Warrants will not have the right to exercise any portion of its Warrants if the holder
(together with such holder’s affiliates, and any persons acting as a group together with such holder or any of such holder’s
affiliates) would beneficially own a number of shares of common stock in excess of 4.99% (or, upon election by a holder prior to the
issuance of any Warrants, 9.99%) of the shares of common stock then outstanding. At the holder’s option, upon notice to the Company,
the holder may increase or decrease this beneficial ownership limitation not to exceed 9.99% of the shares of Common Stock then outstanding.
The Purchase Agreement contains customary representations, warranties, and covenants by the Company. It also provides for customary indemnification
for losses or damages arising out of or in connection with the Offering, including for liabilities under the Securities Act, other obligations
of the parties and termination provisions. 

The
shares of common stock and the Placement Agent Warrants described above and the underlying shares of common stock were offered pursuant
to a Registration Statement on Form S-1, as amended (File No. 333-288221), which was declared effective by the SEC on June 30, 2025.

The
net proceeds of the Offering are approximately $4,800, 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.

Equity
Financing

On
April 29, 2024, the Company closed on a capital investment of 19,444 shares of common stock and warrants, as adjusted for the Reverse
Stock Splits, with a single investor for an aggregate purchase price of $3,850. In connection with the closing, the Company incurred
approximately $66 in issuance costs, which was offset against the proceeds.

Each
warrant has an exercise price of $198.00 per share, as adjusted for the Reverse Stock Splits, is immediately exercisable, will expire
in five years from the date of issuance, and is subject to customary adjustments for certain transactions affecting