Company: SONM
Filing Date: 2025-07-17
Form Type: 8-K
Source: 0001641172-25-020061
Chunk: 1

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-07-17
Form: 8-K
Item: Item 1.01
Chunk 1
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 of $225,000, and the Company agreed to pay $30,000 to the Lender to cover its legal fees, accounting
costs, due diligence, monitoring, and other transaction costs, each of which was deducted from the proceeds of the Note received by the
Company resulting in a purchase price of $2,500,000 received by the Company. Additionally, if the Note remains outstanding on the ninety
(90) day anniversary of the issuance, the Company will incur a one-time monitoring fee equal to the difference between (i) the outstanding
balance of the Note divided by 0.85 (as minuend), and (ii) the outstanding balance of the Note (as subtrahend).

Interest
under the Note accrues at a rate of nine percent (9%) per annum. The unpaid amount of the Note, any interest, fees, charges, and late
fees are due eighteen (18) months following the date of issuance. The Company may prepay all or any portion of the outstanding balance
of the Note. If the Company elects to prepay the Note in part, it will be required to pay to the Lender an amount in cash equal to 110%
of the portion of the outstanding balance the Company elects to prepay. In addition, any time the Company receives any money in connection
with any fundraising or financing transaction (including, but not limited to, any warrant exercises, “at the market” financing,
equity line of credit or debt financing), it must immediately make a mandatory prepayment to the Lender in an amount equal to the lesser
of (a) thirty-three percent (33%) of the amount raised in such transaction, and (b) the total outstanding balance due under the Note as of the
closing date of such financing, payable within two (2) trading days of receiving such amount.

Commencing
six (6) months after the date of issuance of the Note and at any time thereafter until the Note is paid in full, the Lender will have
the right to redeem up to $275,000 under the Note per calendar month. The Company must pay the redeemed amount in cash within three (3)
trading days of receiving a redemption notice. On three (3) separate occasions and not more than once every ninety (90) calendar days,
the Company may defer any redemptions the Lender could otherwise make during a calendar month, provided, however, that each deferral
increases the outstanding balance of