Company: SONM
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022821
Chunk: 67

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 67
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 sold 1,100,000 shares of our common stock and warrants to purchase
up to 550,000 shares of our common stock for an exercise price of $1.3864 per share for an aggregate purchase price of $1.38 million.
We used the net proceeds from the private placement for working capital and general corporate purposes.

On
April 29, 2024, we consummated a private placement with a single investor and sold 350,000 shares of our common stock (as adjusted for
the Reverse Stock Split) and warrants to purchase up to 350,000 shares of our common stock for an exercise price of $11.00 per share
(as adjusted for the Reverse Stock Split) for an aggregate purchase price of $3.85 million. We used the net proceeds from the private
placement for working capital and general corporate purposes.

ATM
Offering

On
August 6, 2024, the Company entered into a sales agreement (the “Sales Agreement”) with Roth Capital Partners, LLC (“Roth”).
Pursuant to the Sales Agreement, the Company could sell up to an aggregate of $8.9 million in shares of common stock through Roth, as
sales agent. During the six months ended June 30, 2025, a total of 3,480,277 shares of common stock were sold under the Sales Agreement
for net proceeds of $8.2 million after payment of commission fees and other related expenses of $0.3 million. As of June 30, 2025, the
Company has completed its sales of shares of common stock under the Sales Agreement and the ATM program has been terminated.

Sales
of shares of our common stock made pursuant to the Sales Agreement were made under the effective Registration Statement on Form
S-3. Roth was entitled to compensation at a commission rate of 3% of the gross sales price per share. For additional information, refer
to Note 5, Stockholders’ Equity, to the condensed consolidated financial statements contained within this report under the title
“ATM Offering.”

Registered
Public Offering

On
July 2, 2025, the Company consummated a best-efforts public offering (the “Offering”) of 7,400,000 shares of its common stock
at a public offering price of $0.75 per share. In connection with the Offering, the Company entered into a securities purchase agreement
with certain investor signatories thereto for the purchase of shares