Company: SONM
Filing Date: 2025-11-24
Form Type: PREM14A
Source: 0001493152-25-024848
Chunk: 292

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: PREM14A
Chunk 292
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 Purchase Agreement, at the Closing, Buyer has agreed to purchase and take assignment and delivery from Seller,
and Seller has agreed to sell, assign, convey, transfer and deliver to Buyer all of Seller’s rights, title and interests in and
to the Acquired Assets, free and clear of all Liens (other than Permitted Liens), for the consideration specified in the Asset Purchase
Agreement, as further detailed below. Seller has agreed to retain and shall not sell, convey, transfer nor deliver to Buyer, and Buyer
has not agreed to purchase nor will Buyer have any rights in or to, the Excluded Assets. On and subject to the terms and conditions of
the Asset Purchase Agreement, at the Closing, Buyer has agreed to assume only the Assumed Liabilities. In accordance with the Asset Purchase
Agreement, the aggregate consideration for the purchase and sale of the Acquired Assets and the assumption of the Assumed Liabilities
(collectively, the “Purchase Price”) shall be an amount equal to: Fifteen Million Dollars ($15,000,000); plus the Adjustment
Amount (which may be a positive or negative number); plus the Earn-Out Payment (if any). In accordance with the Asset Purchase Agreement,
the measurement period for the Earn-Out Payment (the “Earn-Out Period”) shall be the twelve-month period beginning on July
1, 2025, and ending on June 30, 2026. Buyer shall have no obligation to pay any Earn-Out Payment unless the Net Revenue generated during
the Earn-Out Period equals or exceeds Seventy Million Dollars ($70,000,000) (the “Revenue Threshold”). If Net Revenue for
the Earn-Out Period exceeds the Revenue Threshold, the Earn-Out Payment shall be an amount equal to fifty percent (50%) of Net Revenue
in excess of the Revenue Threshold. In no event shall the aggregate Earn-Out Payment exceed Five Million Dollars ($5,000,000). Buyer
shall pay the Earn-Out Payment, if any, to Seller no later than ten (10) Business Days after final determination of the Earn-Out Payment
in accordance with the Asset Purchase Agreement.

| C-1 |

You have asked us to render an opinion, as of the date
hereof, as to the fairness, from a financial point of view, of the Purchase Price payable to the Seller pursuant to the Asset Purchase
Agreement.

For purposes of the opinion set forth
herein, we have, among other things:

| ● | reviewed                                                                                     
 certain publicly available