Company: SONM
Filing Date: 2025-07-17
Form Type: 8-K
Source: 0001641172-25-020061
Chunk: 2

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-07-17
Form: 8-K
Item: Item 1.01
Chunk 2
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 the Note by one percent (1%).

At
any time following the occurrence of a Major Trigger Event or Minor Trigger Event (each as defined in the Note), the Lender may increase
the outstanding balance of the Note by fifteen percent (15%) for each occurrence of any Major Trigger Event and five percent (5%) for
each occurrence of any Minor Trigger Event (the “ Trigger Effect”), provided that the Trigger Effect may only be applied three
(3) times with respect to Major Trigger Events and three (3) times with respect to Minor Trigger Events.

   2  

Subject
to certain exceptions described below, if the Company fails to cure a Trigger Event within five (5) trading days following the date of
transmission of written demand notice by the Lender, the Trigger Event will automatically become an Event of Default (as defined in the
Note). Following the occurrence of any Event of Default, the Lender may, upon written notice to the Company, (i) accelerate the Note,
with the outstanding balance of the Note following application of the Trigger Effect (the “ Mandatory Default Amount”) becoming
immediately due and payable in cash, and (ii) cause interest on the outstanding balance of the Note beginning on the date the applicable
Event of Default occurred to accrue at an interest rate equal to the lesser of twenty-two percent (22%) per annum or the maximum rate
permitted under applicable law. However, certain Trigger Events, such as bankruptcy or insolvency, automatically result in an Event of
Default, making the outstanding balance immediately payable at the Mandatory Default Amount without notice.

Security
Agreements

The
Company’s obligations under the Note are secured by all of the Company’s assets, including its intellectual property, pursuant
to a security agreement (the “ Security Agreement”) and intellectual property security agreement (the “ IP Security Agreement”)
entered into by the Company in favor of the Lender on July 11, 2025. Pursuant to these agreements, the Company granted to the Lender
a first-position security interest in all right, title, interest, claims and demands of the Company in and to certain property including,
but not limited to: all equity in all wholly-owned or partially owned subsidiaries, all goods and equipment and all inventory, and certain
patents, trademarks, and other intellectual property, as more fully detailed therein.

Placement
Agent Fees

Ascendiant
Capital Markets, LLC served as the placement agent on the transaction and received a fee of $150,000 (6