Company: SONM
Filing Date: 2025-11-24
Form Type: PREM14A
Source: 0001493152-25-024848
Chunk: 82

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: PREM14A
Chunk 82
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 from China to [●]; 
 and                                                                                          |

| ○ | the significant                                  
 drop in the value of the Company’s common stock. |

| ● | certain vendors extended                                                                    
 payment terms pending the Asset Sale, reflecting confidence in post-closing continuity with 
 Social Mobile.                                                                              |

| ● | the board’s belief                                                                               
 that the Asset Sale was more favorable to our stockholders than any other alternative reasonably 
 available to us and our stockholders, including:                                                 |

| ○ | continuing                                                                                  
 to operate the Legacy Business with a skeleton operating team and/or operating only certain 
 more profitable components of the Legacy to extract any remaining financial benefit, which  
 Company management advised was not viable given the Company’s high level of cost and        
 challenges with the international scaling of the Legacy Business;                           |

| ○ | liquidating                                                                                  
 and winding down our operations and making a cash distribution to the Company’s stockholders 
 of any remaining cash:                                                                       |

| ○ | this alternative                                                                   
 was estimated by the Company management [? And Company’s financial consultants] to 
 provide [no] value on a price per share basis than the Post-Closing Cash; and      |

| ○ | the                                                                                          
 amount of post-liquidation cash distributions is difficult to estimate and would depend on   
 the outcome of negotiations with vendors and managing abandoned merchants, and indeterminate 
 amounts for disputes with vendors, merchants, customers, and employees.                      |

| ● | the terms of the Asset                       
 Purchase Agreement, including the following: |

| ○ | the                                                                                          
 Company and its legal counsel and financial advisor, acting at the direction of the Special  
 Committee and the board, negotiated the terms and conditions of the Asset Purchase Agreement 
 (primarily focused on provisions to increase certainty of closing, maximize the Cash         
 Consideration, and reduce liabilities retained by the Company) on an arm’s-length            
 basis with the Buyer and its legal counsel;                                                  |

| 54 |

| ○ | the                                                                                 
 belief of the board that the terms of the Asset Purchase Agreement include the most 
 favorable terms reasonably attainable from the Buyer;                               |

| ○ | the                                                                                       
 fact that the Buyer’s obligation to consummate the Asset Sale is not conditioned on       
 the Buyer obtaining third-party financing and the availability of the remedy of specific  
 performance to the Company under the Asset Purchase Agreement under certain circumstances 
 to cause the Buyer to fund the purchase price;                                            |

| ○ | the                                                                                                                             
 board considered that the following provisions