Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 24

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 24
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M
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 may sell, at its option, shares of common stock through Roth, as sales agent. Sales of shares
of the Company’s common stock made pursuant to the Sales Agreement are being made under the Registration Statement on Form S-3
filed on April 9, 2024 (File No. 333-278577), which was declared effective by the SEC on May 3, 2024. Subject to the terms and conditions
of the Sales Agreement, Roth may sell the shares, if any, only by methods deemed to be an “at the market” offering as defined
in Rule 415(a)(4) promulgated under the Securities Act. Roth will be entitled to compensation at a commission rate of 3% of the gross
sales price per share sold through it under the Sales Agreement. The Company agreed to provide Roth with customary indemnification and
contribution rights, including for liabilities under the Securities Act. In addition, the Company is required to reimburse Roth for certain
specified expenses in connection with entering into the Sales Agreement.

During
the nine months ended September 30, 2025, a total of 193,405 shares of common stock, as adjusted for the Reverse Stock Splits, were sold
under the Sales Agreement for net proceeds of $8,229, after payment of commission fees and other related expenses of $258. In the second
quarter of 2025, the Company completed its sales of shares of common stock under the Sales Agreement and the ATM program was terminated.

Shareholder
Rights Plan

On
April 21, 2025, the Board declared a dividend of one preferred share purchase right (“Right”) for each outstanding share
of common stock, par value $0.001 per share, of the Company, and adopted a stockholder rights plan, as set forth in the Rights Agreement,
dated as of April 21, 2025 (the “Rights Agreement”), by and between the Company and Equiniti Trust Company, LLC, a New York
limited liability company, as rights agent. The dividend is payable to stockholders of record of the Company as of the close of business
on May 2, 2025.

Each
Right will allow its holder to purchase from the Company one one-thousand