Company: SONM
Filing Date: 2025-04-30
Form Type: PRRN14A
Source: 0001213900-25-037151
Chunk: 19

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-04-30
Form: PRRN14A
Chunk 19
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 of long -termstockholder value. •On April24, 2025, AJP and Sonim filed the Complaint in the Court of Chancery against Sonim and the Director Defendants seeking relief to: (i) permanently enjoin Sonim and its Board of Directors from taking any action to prevent AJP and Orbic from exercising their rights in accordance with the Company’s By -Lawsto nominate directors, and (ii) find that the Director Defendants breached their fiduciary duties. In the Complaint, AJP and Orbic allege that Sonim’s rejection of the Notice was inconsistent with the By -Lawsand part of the Company’s and the Board of Director’s unlawful strategy to entrench current leadership and prevent the AJP/Orbic Parties from running a rival slate of highly qualified director candidates, thereby precluding Sonim’s stockholders from exercising their franchise. While the AJP/Orbic Parties believe that they will prevail in this proceeding against Sonim, no assurance can be made. 5 REASONS FOR THE SOLICITATION The AJP/Orbic Parties strongly believe that the AJP/Orbic Nominees are the right leaders for Sonim at this critical time and that only through a transformation in leadership will the Company and stockholders see meaningful positive change. The AJP/Orbic Nominees are seasoned, industry professionals with the requisite education, skills, experience and appropriate sense of urgency to undertake a strategic assessment of Sonim and evaluate and, if appropriate, implement its strategic alternatives. Given Sonim’s lackluster financial performance and substantial and accelerating decline in stock price over the last five years, it is clear to the AJP/Orbic Parties that a change in leadership and strategic focus is critical not only for Sonim, but also for Sonim’s stockholders to maximize return on their investment. Although the AJP/Orbic Nominees have not made any commitment to the AJP/Orbic Parties to do so, we believe that the AJP/Orbic Nominees, if elected, will be more attentive to the immediate needs of the Company and will actively engage with the AJP/Orbic Parties regarding its Proposal, which represents a 187% premium to the closing stock price of Sonim on March 31, 2025, the day on which the AJP/Orbic Parties made the Proposal, and a 179% premium to the closing stock price on April15, 2025. Despite having formed the Special Committee several months