Company: SONM
Filing Date: 2025-06-24
Form Type: DEFN14A
Source: 0001213900-25-057305
Chunk: 15

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-24
Form: DEFN14A
Chunk 15
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 2025, AJP and Orbic filed Amendment No. 5 to Schedule 13D with the SEC disclosing the submission of the Proposal to the Board of Directors of Sonim. •On March31, 2025, Orbic submitted a books and records demand (the “ Books and Records Demand”) pursuant to Section 220 of the Delaware General Corporation Law (the “ DGCL”) and the common law of the State of Delaware to the Company seeking to, among other things, review certain books and records of Sonim in connection with the 2025 Annual Meeting, including the election of directors and other matters that may come before the 2025 Annual Meeting. •On April1, 2025, legal representatives of Orbic and representatives of Roth Capital had a meeting to discuss the Preliminary Acquisition Proposal. During this conversation, legal representatives of Orbic indicated that Orbic would be willing to execute a mutually agreeable confidentiality and non -disclosureagreement so that the parties could conduct preliminary due diligence and further discussions regarding a potential transaction, but that any such agreement could not include a standstill provision. The AJP/Orbic Parties have received no further feedback or discussion from Sonim, Roth Capital or the Company’s legal advisors regarding the execution of any such agreement. •On April2, 2025, Sonim and Hao (Peter) Liu, the Company’s Chief Executive Officer, entered into an amendment to Mr.Liu’s employment agreement to significantly increase the severance benefits payable to Mr.Liu in the event of his termination following a change in control. •On April3, 2025, Sonim announced that the Special Committee added a third member, Mr.Jack Steenstra. •On April4, 2025, the Special Committee issued a letter to Orbic outlining certain criteria for moving forward with continuing discussions with Orbic regarding a strategic transaction. •On April7, 2025, the Sonim Board of Directors issued a letter to AJP and Orbic rejecting its stockholder nominations, alleging that the nomination notice was deficient for failure to provide information regarding the experience, qualifications, attributes, or skills of the AJP/Orbic Nominees pursuant to Item 401(e) of SEC Regulation S -K(“ Regulation S -K”). 4 •On April7, 2025, representatives of Sonim delivered a letter to representatives of Orbic contesting AJP and Orbic’s Books and Records Demand. •On April10, 2025, AJP