Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 21

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 21
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 rules. The Company is under no obligation to sell any securities to Chardan under
the ChEF Agreement.

While
there are distinct differences, the facility pursuant to the ChEF Agreement is structured similarly to a traditional “at-the-market”
equity facility, insofar as it allows the Company to raise primary equity capital on a periodic basis. The net proceeds from any sales
under the ChEF Purchase Agreement will depend on the frequency with, and prices at, which the shares of our common stock are sold to
Chardan. The registration statement in connection with the facility became effective on October 29, 2025.

Use
of Proceeds

The
Company expects to use a minimum of 33% of proceeds from any sales under the ChEF Agreement for pre-payment of the promissory note in
the original principal amount of $2,755 issued by the Company to Streeterville Capital, LLC on July 11, 2025, pursuant to the July Purchase
Agreement, until and unless such note is repaid in full. The Company intends to use any remaining proceeds for operations, to support
the overall business strategy, for working capital, and general corporate purposes.

    15

Registered
Public Offering

On
July 2, 2025, the Company consummated a best-efforts public offering (the “Offering”) of 411,111 shares of its common stock,
as adjusted for the Reverse Stock Splits, at a public offering price of $13.50 per share, as adjusted for the Reverse Stock Splits. In
connection with the Offering, the Company entered into a securities purchase agreement with certain investor signatories thereto for
the purchase of shares of common stock described above.

Roth
(the “Placement Agent”) served as the exclusive placement agent in connection with the Offering. The Company paid the Placement
Agent a cash fee of 7.0% of the aggregate gross proceeds raised at the closing of the Offering, and reimbursement of certain expenses
and legal fees in the amount of $100. The Company also issued to designees of the Placement Agent warrants to purchase up to an aggregate
of 11,604 shares of Common Stock, as adjusted for the Reverse Stock Splits (the “Placement Agent Warrants”). The Placement
Agent Warrants have an exercise price of $13.50 per share, as adjusted for the Reverse Stock Splits, are not exercisable until January
2, 2026, and expire on July 2,