Company: SONM
Filing Date: 2025-04-30
Form Type: PRRN14A
Source: 0001213900-25-037151
Chunk: 15

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: PRRN14A
Chunk 15
---
. •On February1, 2025, Orbic and AJP executed and placed into escrow, but did not release, a Securities Purchase Agreement with regard to, among other things, the purchase by Orbic from AJP of 973,173shares of Common Stock. •On February3, 2025, Mr.Wang notified the Board of Directors of Sonim and its legal counsel, Venable LLP, that AJP and Orbic had finalized documentation to consummate the transactions contemplated by the AJP LOI and that Orbic’s counsel would be following up shortly with the Special Committee to present its view on a proposal to move forward with Sonim in a collaborative arms -lengthmanner to maximize stockholder value. •On February3, 2025, Mr.Parveen Narula, Orbic’s Chief Executive Officer, sent an email to the Board of Directors of Sonim and its legal counsel Venable LLP introducing himself formally and that each party’s respective attorneys review a proposed confidentiality and non -disclosureagreement prior to Orbic sharing further information regarding its proposal. •On February4, 2025, Equiniti Trust Company, LLC, Sonim’s transfer agent, advised counsel to Orbic that Sonim had placed a stop transfer order with respect to the transfer of the shares of Common Stock held by AJP. •On February14, 2025, Roth Capital, Sonim’s financial advisor, contacted Mr.Narula and Mr.Douglas Benedict, Executive Vice President of Corporate Development of Orbic, informing Orbic that it was “managing a strategic alternatives process” on behalf of Sonim, was establishing a data room with relevant information that would be made available to interested parties who executed an acceptable non -disclosureagreement and whether Orbic was interested in having a telephonic conversation to further discuss. Mr.Benedict and representatives of Roth Capital held a conference call during which Roth Capital repeated its role in the transaction advising Sonim and reiterated that in order to access the data room and continue any discussions with Sonim, Orbic would be required to execute a non -disclosureagreement, which included, among other things, a two -yearstandstill agreement. Mr.Benedict informed representatives of Roth Capital that given Orbic’s publicly announced transaction with AJP and previous contact with members of the Board of Directors of Sonim, it would await further information regarding the data room and proposed confidentiality and non -disclosureagreement. •On February25,