Company: SONM
Filing Date: 2025-10-09
Form Type: S-1/A
Source: 0001493152-25-017589
Chunk: 41

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-09
Form: S-1/A
Chunk 41
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 (each, a “Purchase Right” and collectively, the “Purchase Rights”) to purchase one-thousandth of one share of our Series A Preferred Shares for each outstanding share of our common stock to the stockholders of record as of the close of business on May 2, 2025, and adopted a limited-duration stockholder rights plan, as set forth in the Rights Agreement, dated as of April 21, 2025, by and between us and the Rights Agent . The Rights Agent serves as our transfer agent with respect to our common stock and was also appointed transfer agent with respect to the Series A Preferred Shares, if any, that may be issued pursuant to the exercise of Purchase Rights under the Rights Agreement. The Purchase Rights will expire on April 21, 2026 (the “Final Expiration Date”), unless the Purchase Rights are earlier redeemed or exchanged by us.

In general terms, the Rights Agreement works by imposing a significant penalty upon any person or group that acquires beneficial ownership of 15.5% (or, in the case of passive institutional investors, an amount that would be above the “Passive Investor Limitation” defined as “less than 20%”) or more of the outstanding shares of our common stock without the approval of our board.

Exercisability

The Purchase Rights will not be exercisable and will trade with shares of our common stock until the earlier to occur of:

| (a) | the tenth calendar day (or such later date as may be determined by                                                                  
 our board) after a person or group (an “Acquiring Person”) acquires beneficial ownership of 15.5% (Passive Investor Limitation      
 in the case of passive investors filing Schedule 13G) or more of our outstanding common stock; or                                   |
| (b) | the tenth business day (or such later date as may be determined by                                                                  
 action of the board prior to such time as any person or entity becomes an Acquiring Person) following the date of commencement of,  
 or the first announcement of, an intention to commence, a tender offer or exchange offer, the consummation of which would result in 
 any person or entity or group of persons or entities acting in concert becoming an Acquiring Person.                                |

The term “Acquiring Person” is subject to certain customary exceptions whereby certain stockholders that would have otherwise been an Acquiring Person are excluded from the definition of “Acquiring Person.” Prior to exercise, the Purchase Rights do not give their holder any dividend